Bitcoin are trading at 10654 and continue to move as part of the correction and the formation of the «Triangle» model. Cryptocurrency capitalization at the time of the publication of the forecast is $179 786 109 246. Moving averages indicate the presence of a lateral trend for Bitcoin. As part of the cryptocurrency rate forecast for tomorrow, August 22, 2019, we should expect an attempt to decrease and test the support level near the area of 9565. Where again we should expect a rebound and an attempt to continue the growth of the Bitcoin rate with a target above the area of 13705.
Bitcoin Forecast and Analysis BTCUSD August 22, 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 a rebound from the lower boundary of the «Triangle» model. Cancellation of the Bitcoin exchange rate growth option will be a fall and a breakdown of the 8650 area. This will indicate a breakdown of the support level and a continued decline in the Bitcoin exchange rate with a potential target at 7750. With the breakdown of the resistance area and closing of cryptocurrency quotes above 12150, we should expect confirmation of a growth in the digital asset rate.
Bitcoin Forecast and Analysis BTCUSD August 22, 2019 suggests an attempt to test the support level near the area of 9565. And then the cryptocurrency will continue to grow with a potential target at 13705. 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 8650 area. This will indicate a continued decline with a potential target below 7750.