Bitcoin BTC/USD are traded at the level of 13562 and continue to move within the limits of the decline. At this point, we should expect an attempt to test the lower limit of the «Wolfe Wave» model near the level of 13100. Again, we should expect a rebound and an attempt to increase Bitcoin with a target above 16050.
Bitcoin forecast & technical analysis January 11, 2018
In support of the growth of BTC/USD quotations, a support line test will be performed on the relative strength index (RSI). The abolition of the Bitcoin growth option will be the fall and breakdown of the 12400 area, which will indicate the breakdown of the lower boundary of the model and the continuation of the fall of BTC/USD below the level of 11800.
Bitcoin forecast & technical analysis January 11, 2018 assumes an attempt to test the lower boundary of the «Wolfe Wave» near the level of 13100 and continue growth to the area above the level of 16050, an additional signal for the growth of Bitcoin will test the support line on the indicator of relative strength index (RSI).