Bitcoin BTC/USD are trading at 5490 and continue to move as part of the decline. Cryptocurrency capitalization at the time of the publication of the forecast is $96 726 185 015. At the moment, we should expect an attempt to test the upper limit of the bearish channel near the area of 5725. Where again we should expect a rebound and continue to decline Bitcoin with a goal below 5050.
Bitcoin forecast & technical analysis November 16, 2018
The test of the resistance line on the relative strength index (RSI) will be in favor of the BTC/USD quotes drop. Cancellation of the Bitcoin exchange rate decline will be a strong growth and the breakdown of the 5850 area. This will indicate a breakdown of the upper boundary of the channel and the continued growth of the Bitcoin rate with a potential target at 6250. With the breakdown of the support area and the closure of cryptocurrency quotes below the 5250 asset.
Bitcoin forecast & technical analysis November 16, 2018 suggests an attempt to test the resistance level near 5725. Then, the cryptocurrency will continue to fall with a potential target at 5050. An additional signal in favor of Bitcoin depreciation will be a test of the trend line on the relative strength index (RSI). Cancellation of the option of falling cryptocurrency will be a strong growth and the breakdown of the 5850 area.
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