Bitcoin BTC/USD are traded at the level of 7791 and continue to move within the bearish trend. At this point, you should expect a test of the resistance area near the level of 8200. Where again we should expect a rebound and an attempt to continue the fall of Bitcoin with a target below the level of 7000.
Bitcoin forecast & technical analysis on March 16, 2018
In favor of falling quotes BTC/USD will test the trend line on the indicator of relative strength index (RSI). The abolition of the Bitcoin reduction option will result in a strong growth and breakdown of the 9000 area, which will indicate a breakdown of the upper border of the channel and potential growth above the level of 10000. Confirmation of the fall will be the breakdown of the support area and the closure below the level of 7500.
Bitcoin forecast & technical analysis on March 16, 2018 suggests an attempt to test the resistance area near the 8200 level and continue falling with a potential target at 7000, an additional signal in favor of the Bitcoin drop will come from the downtrend test on the relative strength index (RSI).
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