Bitcoin BTC/USD ends the trading week at 6379 and continues to move as part of the formation of the «Triangle» model. At the moment, we should expect an attempt to test the resistance area near the level of 6450. Where again we should expect a rebound and an attempt to continue the fall of the Bitcoin rate with a potential target below the level of 5350.
Bitcoin weekly forecast October 29 — November 2, 2018
In favor of reducing the BTC/USD quotes in the current trading week of October 29 — November 2, 2018, a test of the downward trend line on the relative strength index (RSI), as well as a test of the upper limit of the «Triangle» model, will be presented. Cancellation of the Bitcoin fall option will be a strong growth and a breakdown of the 6800 region, which will indicate a breakdown of the upper boundary of the model and continued growth of BTC/USD with a potential target above the level of 8350. A confirmation of the development of the downward trend will be a breakdown of the lower boundary of the Triangle model and closing of quotes below the level of 5950 .
Bitcoin weekly forecast October 29 — November 2, 2018 suggests an attempt at a resistance area near 6450 and continuing cryptocurrency to fall below 5350, an additional signal in favor of depreciation of Bitcoin will be a test of resistance on the relative strength index (RSI), canceling the fall option Bitcoin cryptocurrency quotes will make a strong growth and the breakdown of the 6800 region, in this case, we should expect continued growth.
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