Bitcoin BTC/USD are trading at 6382 and continue to move as part of the correction. Cryptocurrency capitalization at the time of the publication of the forecast is $112 292 443 749. At the moment, we can expect an attempt to test the resistance level near the 6450 area. Where again we should expect a rebound and an attempt to continue the fall of the Bitcoin rate with a target below the level of 5950.
Bitcoin forecast & technical analysis October 23, 2018
In favor of falling BTC/USD quotes, a test of the trend line on the relative strength index (RSI) will come out. Cancellation of the Bitcoin depreciation option will be a strong growth and the breakdown of the 6500 area, indicating a breakdown of the upper limit of the «Triangle» model and continued growth of the Bitcoin rate with a potential target at 6850. With the breakdown of the lower boundary of the «Triangle» model and the closure of cryptocurrency quotes below 6300 we should expect confirmation of the development of the decline in the digital asset rate.
Bitcoin forecast & technical analysis October 23, 2018 suggests an attempt to test the resistance level near 6450 and continue cryptocurrency to fall with a potential target at 5950, an additional signal in favor of Bitcoin depreciation will be a test of the trend line on the relative strength index (RSI), canceling the option falling cryptocurrency will become a strong growth and the breakdown of the 6500 area.
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