Bitcoin BTC/USD are trading at 6376 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 $112 274 341 118. At the moment, we should expect an attempt to test the resistance level near the 6415 area. Where again we should expect a rebound and an attempt to continue the fall of the Bitcoin rate with a target below the 6200 level.
Bitcoin forecast & technical analysis October 26, 2018
In favor of falling BTC/USD quotes, a test of the downward 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 26, 2018 suggests an attempt to test the resistance level near 6415 and continue cryptocurrency to fall with a potential target at 6200, an additional signal in favor of Bitcoin depreciation will be a test of the trend line on the relative strength indicator, canceling the option falling cryptocurrency will become a strong growth and the breakdown of the area of 6500.