Bitcoin BTC/USD are traded at the level of 7634 and continue to move within the bearish trend. At this point, we should expect an attempt to test the upper boundary of the descending channel near the level of 7650. Again, we should expect a rebound and an attempt to continue falling Bitcoin with a target below 4900. In favor of falling quotes BTC/USD will test the resistance line on the indicator of relative strength index (RSI).
Bitcoin forecast & technical analysis February 8, 2018
The abolition of the Bitcoin reduction option will be a strong growth and breakdown of the area of 8500, which will indicate that the growth of BTC/USD is higher than the level of 9800. With the breakdown of the lower border of the channel and the closing below the level of 5300, it is expected to accelerate the drop of Bitcoin quotations.
Bitcoin forecast & technical analysis February 8, 2018 suggests an attempt to test the upper border of the channel near 7650 and continue falling to the area below the level of 4900, an additional signal in favor of the Bitcoin drop will be a test of the resistance line on the indicator of relative strength index (RSI).
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