Bitcoin BTC/USD continue to move within the bullish channel. At this point, we should expect an attempt to test the lower border of the channel near the area of 4950. Again, we should expect a rebound and a rise in prices above the level of 6350. In favor of the growth of quotations BTC/USD is the test of the support line on the indicator of relative strength index (RSI).
BITCOIN forecast & technical analysis on October 19, 2017
The cancellation of the variant of growth will be the breakdown of the 4800 area, which will indicate the yield of the cryptocurrency for the limits of the channel and the continuation of the fall below the level of 4200. Expect a faster growth with a breakdown of the level of 5650.
BITCOIN forecast & technical analysis on October 19, 2017 involves an attempt to fall into the lower channel boundary area, from which it is expected to rebound and continue to grow Bitcoin with a potential target near the area of 6350, an additional signal is the trendline test on the relative strength indicator (RSI).
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