Bitcoin BTC/USD are traded at 8261 and continue to move in a bearish trend. At this point, we should expect a test of the support area near the 7400 level. Again, we should expect a rebound and an attempt to start Bitcoin growth with a target above the level of 10000, as part of the development of the bullish model «Wolfe Wave».
Bitcoin (BTC/USD) technical analysis on March 20, 2018
In favor of the growth of quotations BTC/USD will test the trend line on the indicator of relative strength. Abolishing the growth of Bitcoin decrease will be a strong drop and breakdown of the area of 6500, which will indicate the breakdown of the lower boundary of the «Wolfe Wave» model and the continuation of the fall below the level of 5800. Confirmation of the growth will break the trend line and close above the level of 8500.
Bitcoin (BTC/USD) technical analysis on March 20, 2018 involves trying to test the support area near the 7400 level and continuing growth with a potential target at 10000, an additional signal in favor of Bitcoin’s growth will be a test of the trend line on the indicator of relative strength index (RSI).
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