Bitcoin BTC/USD are traded at 6196 and continue to move as part of the development of the «Triangle» model. Cryptocurrency capitalization at the time of the publication of the forecast is $108 772 970 365. At the moment, we should expect an attempt to test the resistance level near the 6250 area. Where again we should expect a rebound and an attempt to continue the fall of the Bitcoin rate with the goal below 5650.
Bitcoin forecast & technical analysis October 12, 2018
In favor of reducing the BTC/USD quotes, a test of the broken trend line on the relative strength index (RSI) will be made. The cancellation of the Bitcoin exchange rate option will be a strong growth and a breakdown of the 6700 area, which will indicate a breakdown of the resistance area and the continued growth of the Bitcoin rate with a potential target at 7350. With the breakdown of the support area and the closure of cryptocurrency quotes below the 5900, we should expect confirmation of the decline in the digital asset.
Bitcoin forecast & technical analysis October 12, 2018 suggests an attempt to test the resistance level near the 6250 area and continue cryptocurrency decline with a potential target at 5650, 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 a strong growth and a breakdown of the 6700 area.
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