Bitcoin BTC/USD are traded at 8102 and continue to move in a bearish trend. At this point, we should expect an attempt to test the upper boundary of the bearish channel near the 8700 level. Again, we should expect a rebound and an attempt to continue the drop of Bitcoin with a target below 4000. In favor of falling quotes, BTC/USD will test the resistance line on the relative strength index (RSI), the boundary of the bearish channel.
Bitcoin forecast & technical analysis February 9, 2018
The abolition of the Bitcoin reduction option will result in a strong growth and breakdown of the region of 10000, which will indicate that the growth of BTC/USD is higher than the level of 12000. With the breakdown of the support area and the closing below 6000, it is expected to accelerate the drop in Bitcoin quotations.
Bitcoin forecast & technical analysis February 9, 2018 suggests an attempt to test the upper border of the channel near 8700 and continue falling to the area below the level of 4000, 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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