Bitcoin BTC/USD are traded at 6245 and continue to move as part of the decline. Cryptocurrency capitalization at the time of the publication of the forecast is $109 875 237 206. At the moment, we can expect an attempt to test the resistance level near the area of 6300. Where again we should expect a rebound and an attempt to continue the fall of the Bitcoin rate with the goal below 6060.
Bitcoin forecast & technical analysis November 1, 2018
In favor of falling BTC/USD quotes, a test of the downward trend line on the relative strength index (RSI), as well as the formation of the «Flag» model will come out. Cancellation of the Bitcoin depreciation option will be a strong growth and a breakdown of the 6400 region, which will indicate a breakdown of the resistance area and the continued growth of the Bitcoin rate with a potential target at 6650. With the breakdown of the support area and the closure of cryptocurrency quotes below 6195, we should expect confirmation of the devaluation.
Bitcoin forecast & technical analysis November 1, 2018 suggests an attempt to test the resistance level near 6300 and continue to fall cryptocurrency with a potential target at 6060, an additional signal in favor of Bitcoin depreciation will be a test of the trend line on the relative strength index (RSI), canceling the option falling cryptocurrency will become strong growth and the breakdown of the 6400 area.
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