Bitcoin BTC/USD are traded at the level of 9001 and continue to move within a bearish trend. At this point, we should expect a test of the support area near the 8200 level. Again, we should expect a rebound and an attempt to continue Bitcoin growth with a target above the level of 10200 as part of the development of the bullish model of the «Wolfe Wave».
Bitcoin (BTC/USD) technical analysis on March 22, 2018
In favor of the growth of quotations BTC/USD will test the trend line on the indicator of relative strength. The abolition of growth in Bitcoin will be the fall 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 5500. A breakdown of the resistance area and the closing above the level of 9500 will prove the development of the bullish trend.
Bitcoin (BTC/USD) technical analysis on March 22, 2018 suggests an attempt of testing the support area near 8200 level and continuing growth with a potential target at 10,200, an additional signal in favor of Bitcoin growth will be a test of the trend line on the indicator of relative strength index (RSI).
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