Bitcoin is trading at the level of 11881. Quotes of BTC/USD continue to move below the level of moving averages, which indicates the development of the bearish trend. At the moment, we expect to continue correction to the moving average near the level of 12750 and continue to decline quotations Bitcoin to below the level of 10350.
BTC/USD forecast Bitcoin on January 17, 2018
An additional signal in favor of the Bitcoin drop will be a test of level 80 on the Stochastic indicator, which will form a strong signal for sell of the cryptocurrency in the direction of a short-term bearish trend. In favor of the decrease will also test the upper boundary of the bearish channel.
The cancellation of the variant of the BTC/USD quotations drop will result in a strong growth and breakdown of the area of 13500, which will indicate the breakdown of the upper border of the channel and the continued growth of the cryptocurrency. With the breakdown of the local minimum level and the closing of quotations below the 10400 area, it is expected to accelerate the development of the bearish trend.
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