Bitcoin BTC/USD are trading at 4446 and continue to move as part of the correction and the formation of the «Triangle» model. Cryptocurrency capitalization at the time of the publication of the forecast is $78 356 323 942. At the moment, we can expect an attempt to correct and test the resistance level near the area of 4575. Where again we should expect a rebound and an attempt to continue the fall of the Bitcoin exchange rate with the target below 3750.
Bitcoin forecast & technical analysis November 23, 2018
In favor of reducing the BTC/USD quotes, a test of the downward trend line on the relative strength index (RSI) will be made. And also test the upper limit of the downward channel. Cancellation of the Bitcoin exchange rate decline will be a strong growth and a breakdown of the 4900 area. This will indicate the breakdown of the resistance area and the continued growth of the Bitcoin rate with a potential target at 5650. With the breakdown of the lower boundary of the «Triangle» model and the closure of cryptocurrency quotes below 4150 depreciation of the digital asset.
Bitcoin forecast & technical analysis November 23, 2018 suggests an attempt to test the resistance level near 4575. And further, the cryptocurrency decline continues with a potential target at 3750. 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 4900 region.
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