BTC/USD are trading at 47493 and continue to move as part of the rise and the bullish channel. The capitalization of the Bitcoin cryptocurrency at the time of the publication of the forecast is $888,288,521,054. Moving averages indicate a short-term bullish trend for Bitcoin. Prices went up from the area between the signal lines, which indicates pressure from buyers of ”Digital Gold” and a potential continuation of the growth of the asset value from the current levels. As part of the cryptocurrency rate forecast for tomorrow, August 17, 2021, we should expect an attempt to develop a correction in the value of a digital asset and a test of the support level near the 45085 area. Where can we again expect a rebound and an attempt to grow the Bitcoin rate with a target above the 51605 area.
Bitcoin Forecast and Analysis BTC/USD August 17, 2021
An additional signal in favor of raising the BTC/USD quotes will be a test of the broken trend line on the relative strength index (RSI). The second signal will be a rebound from the lower border of the ascending channel. Cancellation of the growth rate and value of Bitcoin will be a fall in the value of the asset and a breakdown of the 41055 area. This will indicate a breakdown of the support area and the continuation of the fall in the Bitcoin rate with a potential target at 37205. Confirmation of the rise in the asset price will be a breakdown of the resistance area with the price fixing above 49405.
Bitcoin Forecast and Analysis BTC/USD August 17, 2021 implies an attempt to test the support level near the area of 45085. And further, the cryptocurrency will continue to grow with a potential target at 51605. An additional signal in favor of raising the Bitcoin rate will be a test of the support line on the relative strength index (RSI). Cancellation of the cryptocurrency growth option will be a fall and a breakdown of the 41055 area. This will indicate a continued decline with a potential target below the 37205 area.
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