Bitcoin BTC/USD are traded at 8164 and continue to move in a bearish trend. At this point, we should expect a test of the resistance area near the level of 8300. 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 18, 2018
In favor of falling quotations of BTC/USD, a trend line test will be performed on the indicator of relative strength, as well as the formation of the «Head and Shoulders» reversal model. 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 10200. Confirmation of the fall will break the support area and the closure below the level of 7500.
Bitcoin forecast & technical analysis on March 18, 2018 suggests an attempt to test the resistance area near the level of 8300 and continue falling with a potential target at 7000, an additional signal in favor of the Bitcoin drop will come from the bearish trend line test on the relative strength index (RSI)
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