Bitcoin BTC/USD are trading at 6517 and continue to move within the «Triangle» model. Cryptocurrency capitalization at the time of the publication of the forecast is $113 726 405 597. At the moment, we can expect an attempt to test the support level near the 6450 area. Where again we should expect a rebound and an attempt to continue the growth of the Bitcoin rate with a target above the 6950 level.
Bitcoin forecast & technical analysis October 5, 2018
In favor of the growth of BTC/USD quotes, a test of the trend line on the relative strength index (RSI) will come out. Cancellation of the Bitcoin growth rate will be a fall and a breakdown of the 6250 area, which will indicate a breakdown of the support area and a continued decline of the Bitcoin rate with a potential target at 5850. With the breakdown of the upper limit of the «Triangle» model and the closure of cryptocurrency quotes above 6600, we should expect confirmation of growth course digital asset.
Bitcoin forecast & technical analysis October 5, 2018 suggests an attempt to test the support level near the 6450 area and continue cryptocurrency decline with a potential target of 6950, an additional signal in favor of the Bitcoin appreciation is a test of the trend line on the relative strength index (RSI), canceling the option cryptocurrency growth will fall and the breakdown of the 6250 area.
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