Bitcoin BTC/USD traded at the level of 7528 and continues to move within the correction. At this point, we should expect an attempt to test the lower boundary of the channel near the area of 7500. Where again we should expect a rebound and an attempt to continue the growth of the Bitcoin exchange rate with a target above the level of 9150.
Bitcoin (BTC/USD) technical analysis August 2, 2018
In favor of the growth of quotations BTC/USD will test the trend line on the indicator of relative strength index (RSI). The abolition of the Bitcoin growth option will be the fall and breakdown of the 7300 area, which will indicate the breakdown of the lower boundary of the channel and the continued decline in the Bitcoin rate. With the breakdown of the resistance area and the closing of the quotations of the cryptocurrency above the level of 8350, one should expect confirmation of the development of the growth variant.
Bitcoin (BTC/USD) technical analysis August 2, 2018 assumes a try of a support level test near the area of 7500 and the continuation of the growth of the cryptocurrency with a potential target at 9150, an additional signal for the growth of the Bitcoin rate will be a trend line test on the relative strength index (RSI).