Technical analysis Bitcoin. BTC-USD August 16, 2018

August 17, 2018


On the smaller timeframes we can see the formation of the triangle. If the asset manages to overcome the resistance at 6625 that looks like a strong barrier now, we will have an opportunity to get the growth to 7000 level. On 12 hours timeframe, we can see that the bulls are trying to push the price higher: MACD demonstrates the cross that positively affects the price growth. RSI, once touch the oversold area will start to move up. The asset is ready to grow to its upper edge of the pattern (in both variants within the correction or as a formation of the new wave of growth.

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