Bitcoin BTC/USD are traded at the level of 11018 and continue to move within the limits of the decline. At the moment, we should expect a test of the level of 11750. Again, we should expect a rebound and an attempt to continue Bitcoin with a target below 8300. In favor of falling quotes, BTC/USD will test the trend line on the indicator of relative strength index (RSI), as well as the formation of the reversal model «Head and Shoulders».
Bitcoin forecast & technical analysis January 23, 2018
The abolition of the Bitcoin decline option will result in a strong growth and breakdown of the area of 13,000, which will indicate the reversal of the reversal pattern and the continuation of BTC/USD growth above the level of 14500. With the break of the «Neckline» level and the closing below the level of 10400, it is expected to accelerate the drop in Bitcoin quotations.
Bitcoin forecast & technical analysis January 23, 2018 assumes an attempt to test the level of 11750 and continue falling to the area below the level of 8300, an additional signal in favor of Bitcoin fall will be a test of the resistance line on the indicator of relative strength index (RSI), as well as the formation of a reversal pattern.
