Bitcoin Forecast and Analysis BTC/USD August 14, 2020



BTC/USD are traded at 11496 and continue to move as part of the growth and formation of the «Triangle» pattern. Bitcoin cryptocurrency capitalization at the time of the publication of the forecast is $213 074 910 822. Moving averages indicate a short-term bullish trend for Bitcoin. Prices bounced off the area between the lines, indicating pressure from Digital Gold buyers and potential continued growth in the asset’s value. As part of the cryptocurrency rate forecast for tomorrow, August 14, 2020, we should expect an attempt to develop a downward correction in the value of a digital asset and a test of the support level near the 11135 area. Where again should we expect a rebound and an attempt to continue the growth of the Bitcoin rate with a target above the 13055 area.

Bitcoin Forecast and Analysis BTC/USD August 14, 2020

An additional signal in favor of the growth of BTC/USD quotes will be a test of the trend line on the relative strength index (RSI). The second signal will be a rebound from the lower border of the «Triangle» pattern. Cancellation of the option to raise the rate and value of Bitcoin will be a fall in the value of the asset and a breakdown of the area of ​​10805. This will indicate a breakdown of the support area and the continuation of the fall in the Bitcoin exchange rate with a potential target at 9935. With the breakdown of the resistance area and closing of cryptocurrency quotes above the level of 12245, we should expect confirmation of the growth of the rate digital asset, which will indicate a breakdown of the upper border of the «Triangle» model.

Bitcoin Forecast and Analysis BTC/USD August 14, 2020

Bitcoin Forecast and Analysis BTC/USD August 14, 2020 implies an attempt to test the support level near the 11135 area. And further, the cryptocurrency will continue to grow with a potential target at 13055. An additional signal in favor of the Bitcoin rate rise will be a test of the support line on the relative strength index (RSI). Cancellation of the growth option for cryptocurrency will be a fall and a breakdown of the area of ​​10805. This will indicate a continued decline with a potential target below the area of ​​9935.


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