Bitcoin BTC/USD are traded at the level of 8129 and continue to move within the framework of the bullish correction. At this point, we should expect a test of resistance level near the area of 8300. Where again we should expect a rebound and an attempt to continue falling Bitcoin with a target below the level of 7450.
Bitcoin (BTC/USD) technical analysis April 18, 2018
In favor of falling quotations of BTC/USD, a trend line test will be performed on the indicator of relative strength index (RSI), as well as the formation of the «Head and Shoulders» reversal model. The abolition of the Bitcoin fall will be a strong growth and breakdown of the 8450 area, which will indicate the breakdown of the resistance area and the continued growth of the Bitcoin exchange rate. A confirmation of the development of the fall of the crypto currency will be the breakdown of the «Neckline» of the reversal pattern and the closing below the level of 7800.
Bitcoin (BTC/USD) technical analysis April 18, 2018 suggests an attempt to test the resistance level near the area of 8300 and continue falling with a potential target at 7450, an additional signal in favor of the Bitcoin drop will be a test of the trendline on the indicator of relative strength index (RSI).
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