Bitcoin BTC/USD are trading at 6371 and continue to move as part of the correction. Cryptocurrency capitalization at the time of the publication of the forecast is $112 236 854 524. At the moment, we should expect an attempt to test the resistance level near the 6400 area. Where again we should expect a rebound and an attempt to continue the fall of the Bitcoin rate with the goal below 6050.
Bitcoin forecast & technical analysis October 24, 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, which will indicate 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 the level of 6250 we should expect confirmation of the development of the decline in the digital asset rate.
Bitcoin forecast & technical analysis October 24, 2018 suggests an attempt to test the resistance level near the 6400 area and continue to fall cryptocurrency with a potential target at 6050, an additional signal in favor of depreciation of the Bitcoin is 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 area of 6500.