Bitcoin BTC/USD are traded at the level of 6295 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 $108 858 533 593. At this point, we should expect a test of the resistance level near the area of 6380. Again, we should expect a rebound and an attempt to continue the fall of the Bitcoin exchange rate with a target below the level of 5800.
Bitcoin forecast & technical analysis September 12, 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 12, 2018 involves an attempt to test the resistance level near the 6380 area and continue falling of the cryptocurrency with a potential target at 5800, an additional signal in favor of Bitcoin depreciation will be a resistance line test on the relative strength index (RSI).
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