Bitcoin forecast & technical analysis November 19, 2018


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Bitcoin BTC/USD are trading at 5515 and continue to move as part of the correction. Cryptocurrency capitalization at the time of the publication of the forecast is $97 288 558 823. At the moment, we should expect an attempt to test the resistance level near 5570. Where again we should expect a rebound and an attempt to continue the fall of the Bitcoin rate with a target below 4950.

Bitcoin forecast & technical analysis November 19, 2018

In favor of reducing the BTC/USD quotes, a test of the resistance area on the relative strength index (RSI) will come out. And also test the upper limit of the model «Triangle». Cancellation of the Bitcoin exchange rate decline will be a strong growth and the breakdown of the 5670 area. This will indicate the breakdown of the resistance area and the continued growth of the Bitcoin rate with a potential target at 7350. With the breakdown of the lower boundary of the «Triangle» model and the closure of cryptocurrency quotes below the level of 5300, development should depreciation of the digital asset.

Bitcoin forecast & technical analysis November 19, 2018

Bitcoin forecast & technical analysis November 19, 2018 suggests an attempt to test the resistance level near 5570. And further, the cryptocurrency decline continues with a potential target at 4950. An additional signal in favor of the Bitcoin exchange rate is the test of the trend line on the relative strength index (RSI). Cancellation of the option to reduce cryptocurrency will be a strong growth and the breakdown of the 5670 region.


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