Bitcoin is trading at 10715. BTC/USD continue to move below the level of moving averages, which indicates the development of a bearish trend. At the moment, we expect to continue correction to the moving average near the level of 11250 and continue to decline quotations Bitcoin with a target below 7800.
BTC/USD forecast Bitcoin on January 19, 2018
An additional signal in favor of the Bitcoin drop is the 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 downtrend. In favor of lowering, a resistance level test will also perform.
The cancellation of the variant of the BTC/USD price drop will result in a strong growth and breakdown of the area of 12900, 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 area of 8900, it is expected to accelerate the development of the bearish trend.
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