Bitcoin is trading at 10718. 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 11650 and continue to decline quotations Bitcoin with a target below 8000.
BTC/USD forecast Bitcoin on January 18, 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 sales of the crypto currency in the direction of a short-term bearish trend.
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 9200, it is expected to accelerate the development of the bearish trend.
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