Bitcoin BTC/USD are traded at the level of 6,252 and continue to move within the framework of the formation of the «Triangle» model. Capitalization of the cryptocurrency at the time of publication of the forecast is $109 143 648 355. At this point, we should expect a test of the resistance level near the area of 6350. Again, we should expect a rebound and an attempt to continue the fall of the Bitcoin exchange rate with a target below 5650 level.
Bitcoin forecast & technical analysis September 11, 2018
In favor of the drop in BTC/USD quotes, a resistance line test will be performed on the relative strength index (RSI) and a resistance level test near the 6500 area. The abolition of the Bitcoin depreciation scenario will result in a strong growth and breakdown of the 6700 area, indicating a breakdown of the upper boundary of the channel and a continuation growth rate of Bitcoin. With the breakdown of the lower bound of the «Triangle» model and the closing of the cryptocurrency quotes below the level of 6050, it is necessary to expect confirmation of the development of the depreciation of the digital asset.
Bitcoin forecast & technical analysis September 11, 2018 involves an attempt to test the resistance level near the area of 6350 and continue falling of the cryptocurrency with a potential target at 5650, an additional signal in favor of Bitcoin depreciation will be a resistance line test on the relative strength index (RSI).
