Bitcoin BTC/USD are traded at 6837 and continue to move in a bearish trend. At this point, we should expect an attempt to test the upper limit of the «Triangle» model near the area of 6900. Where again we should expect a rebound and an attempt to continue the Bitcoin drop with a target below the level of 5500.
Bitcoin (BTC/USD) technical analysis April 12, 2018
In favor of falling quotes BTC/USD will test the trend line on the indicator of relative strength index (RSI). The cancellation of the Bitcoin drop option will result in a strong growth and breakdown of the 7200 area, which will indicate the breakdown of the upper limit of the «Triangle» model and the continuation of the growth above the level of 9100. A breakdown of the support area and closing below the level of 6400 will confirm the development of the bearish trend.
Bitcoin (BTC/USD) technical analysis April 12, 2018 suggests a test of the resistance line near the 6900 area and the continuation of the fall with a potential target at 5500, an additional signal in favor of the Bitcoin drop will be a trend line test on the relative strength index (RSI).
Looking for the Best Forex Broker? We trade at RoboForex. You can receive a rebates from each trade when registering using our partner link
