Bitcoin forecast & technical analysis November 7, 2018


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Bitcoin BTC/USD are trading at 6388 and continue to move as part of growth. Cryptocurrency capitalization at the time of the publication of the forecast is $111 735 937 633. At the moment, we can expect an attempt to test the support level near the area of ​​6365. Where can we expect a rebound again and an attempt to continue the growth of the Bitcoin rate with the goal above 6600.

Bitcoin forecast & technical analysis November 7, 2018

In favor of the growth of BTC/USD quotes, a test of the rising trend line on the relative strength index (RSI) will be made. Cancellation of the Bitcoin growth rate will be a fall and a breakdown of the 6300 area, which will indicate breakdown of the lower channel boundary and the continuation of the fall of the Bitcoin rate with a potential target at 6100. With the breakdown of the resistance area and the closure of cryptocurrency quotes above 6450, we should expect confirmation of the growth rate of the digital asset.

Bitcoin forecast & technical analysis November 7, 2018

Bitcoin forecast & technical analysis November 7, 2018 implies an attempt to test the resistance level near 6365 and the continued growth of cryptocurrency with a potential target of 6600, an additional signal in favor of the growth of the Bitcoin rate will be a test of the trend line on the relative strength index (RSI), canceling the option cryptocurrency growth will fall and the breakdown of the area of ​​6300.


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