Bitcoin are trading at 10680 and continue to move as part of the correction and the formation of the inverted «Head and Shoulders» model. Cryptocurrency capitalization at the time of the publication of the forecast is $191 050 735 126. Moving averages indicate the presence of an upward trend in Bitcoin. As part of the cryptocurrency rate forecast for tomorrow, August 20, 2019, we should expect an attempt to decrease and test the support level near the area of 9725. Where again we should expect a rebound and an attempt to continue the growth of the Bitcoin rate with the target above the area of 13775.
Bitcoin Forecast and Analysis BTCUSD August 20, 2019
In favor of the growth of BTC/USD quotes, a test of the support line on the relative strength index (RSI) will come out. The second signal will be the completion of the formation of the reversal model. Cancellation of the Bitcoin exchange rate growth option will be a fall and a breakdown of the 8750 area. This will indicate a breakdown of the support level and a continued decline in the Bitcoin exchange rate with a potential target at 7950. With the breakdown of the resistance area and closing of cryptocurrency quotes above 12100, we should expect confirmation of a growth in the digital asset rate.
Bitcoin Forecast and Analysis BTCUSD August 20, 2019 suggests an attempt to test the support level near the area of 9725. And then the cryptocurrency will continue to grow with a potential target at the level of 13775. An additional signal in favor of the Bitcoin exchange rate will be the support area test on the relative strength index (RSI). Cancellation of the cryptocurrency growth option will be a fall and a breakdown of the 8750 area. This will indicate a continued decline with a potential target below 7950.
Looking for the Best Forex Broker? We trade at RoboForex. You can receive a rebates from each trade when registering using our partner link
