Bitcoin forecast & technical analysis October 11, 2018


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Bitcoin BTC/USD are traded at 6457 and continue to move within the «Triangle» model, which indicates the presence of uncertainty, until quotes go outside the model. Cryptocurrency capitalization at the time of the publication of the forecast is $113 524 528 939. At the moment, we can expect an attempt to test the resistance level near the 6550 area. Where again we should expect a rebound and an attempt to continue the fall of the Bitcoin rate with the goal below 6045.

Bitcoin forecast & technical analysis October 11, 2018

In favor of reducing the BTC/USD quotes, a test of the trend line on the relative strength index (RSI) will be made. Cancellation of the Bitcoin exchange rate decline will be a strong growth and the breakdown of the 6750 area, which 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 6300, we should expect development confirmation depreciation of the digital asset.

Bitcoin forecast & technical analysis October 11, 2018

Bitcoin forecast & technical analysis October 11, 2018 suggests an attempt to test the resistance level near the 6550 area and continue cryptocurrency decline with a potential target at 6045, an additional signal in favor of the Bitcoin exchange rate is the test of the trend line on the relative strength index (RSI), canceling the option declining cryptocurrency will become strong growth and the breakdown of the region of 6750.


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