BTC/USD quotes are trading at 106399 and continue to move within the development of growth and a bullish channel. Moving averages indicate the presence of a short-term upward trend for Bitcoin. Prices have broken through the area between the signal lines upwards, which indicates pressure from buyers of “Digital Gold” and a potential continuation of the growth in the value of the asset from the current levels. As part of the cryptocurrency rate forecast for tomorrow, December 18, 2024, we should expect an attempt to develop growth in the value of the digital asset and a test of the resistance level near the 108605 area. From where we should again expect a rebound downwards and an attempt to continue the fall of the Bitcoin rate with a target below the 93045 area.
Bitcoin Forecast and Analysis for December 18, 2024
An additional signal in favor of the fall of BTC/USD quotes will be a test of the bearish trend line on the relative strength indicator. The second signal in favor of this option will be a rebound from the upper border of the bullish channel. The cancellation of the option of falling coin rate and Bitcoin price will be a strong growth in the asset price and a breakout of the 115405 area. This will indicate a breakout of the resistance area and continued growth of the Bitcoin rate with a potential target at 125605. Confirmation of the asset price fall will be a breakout of the support area with the price fixing below 99705, which will indicate a breakout of the lower border of the bullish channel.
Bitcoin Forecast and Analysis for December 18, 2024 suggests an attempt to test the resistance level near the 108605 area. And then, the continuation of the fall of the cryptocurrency with a potential target at 93045. An additional signal in favor of a decrease in the Bitcoin rate will be a test of the resistance line on the relative strength indicator. The breakdown of the 115405 area will cancel the option of the digital currency falling. This will indicate a continuation of the coin’s rise with a potential target above the 125605 mark.
Looking for the Best Forex Broker? We trade at RoboForex. You can receive a rebates from each trade when registering using our partner link
