Bitcoin BTC/USD are trading at 6408 and continue to move as part of the correction and the formation of the «Triangle» model. Cryptocurrency capitalization at the time of the publication of the forecast is $112 690 303 350. At the moment, we can expect an attempt to test the resistance level near the 6420 area. Where again we should expect a rebound and an attempt to continue the fall of the Bitcoin rate with a target below 6100.
Bitcoin forecast & technical analysis October 25, 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 6540 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 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 25, 2018 suggests an attempt to test the resistance level near the 6420 area and continue to fall cryptocurrency with a potential target at 6100, an additional signal in favor of depreciation of the Bitcoin will be a test of the trend line on the relative strength index (RSI), cancellation the fall of the cryptocurrency will become strong growth and the breakdown of the area of 6540.
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