Bitcoin BTC/USD are traded at 6546 and continue to move within the correction. Capitalization of the crypto currency at the time of publication of the forecast is $114 185 568 726. At this point, you should expect a test of the resistance level near the area of 6620. Again, we should expect a rebound and an attempt to continue the fall of the Bitcoin exchange rate with a target below 6000.
Bitcoin forecast & technical analysis October 2, 2018
In favor of lowering the quotations of BTC/USD, a trend line test will be performed on the indicator of relative strength index (RSI). The abolition of the variant of the Bitcoin depreciation will be a strong growth and breakdown of the 6800 area, which will indicate the breakdown of the upper limit of the «Triangle» model and the continued growth of the Bitcoin exchange rate with a potential target at 7450. With the breakdown of the «Triangle» lower bound and the closing of the cryptocurrency quotes below 6300 it is necessary to expect confirmation of the development of the option of depreciating the digital asset.
Bitcoin forecast & technical analysis October 2, 2018 involves an attempt to test the resistance level near the 6620 area and continue the decline of the cryptocurrency with a potential target at 6000, an additional signal in favor of the Bitcoin depreciation will be a trend line test on the relative strength index (RSI), decrease of the cryptocurrency will be a strong growth and breakdown of the region 6800.
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