BTC/USD are trading at 44342 and continue to move as part of the correction and the bullish channel. The capitalization of the Bitcoin cryptocurrency at the time of the publication of the forecast is $835,390,164,220. Moving averages indicate a short-term bullish trend for Bitcoin. Prices are again testing 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 on August 20, 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 39605 area. Where can we again expect a rebound and an attempt to increase the Bitcoin rate with a target above the 52655 area.
Bitcoin Forecast and Analysis BTC/USD August 20, 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 35405 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 30505. Confirmation of the rise in the price of the asset will be a breakdown of the resistance area with the price fixing above 49405.
Bitcoin Forecast and Analysis BTC/USD August 20, 2021 suggests an attempt to test the support level near the 39605 area. And further, the cryptocurrency will continue to grow with a potential target at 52655. 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 cryptocurrency growth option will be a fall and a breakdown of the 35405 area. This will indicate a continued decline with a potential target below the 30505 area.
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