BTCUSD are trading at 10361 and continue to move as part of the correction and formation of the «Triangle» model. Bitcoin cryptocurrency capitalization at the time of the publication of the forecast is $185 102 689 747. Moving averages indicate a bearish trend in Bitcoin. As part of the cryptocurrency rate forecast for tomorrow, August 27, 2019, we should expect an attempt to decrease and test the support level near the area of 9705. 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 13850.
Bitcoin Forecast and Analysis BTCUSD August 27, 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 8605 area. This will indicate a breakdown of the support level and a continued decline in the Bitcoin exchange rate with a potential target at 7705. With the breakdown of the resistance area and closing of cryptocurrency quotes above 11850, we should expect confirmation of a growth in the digital asset rate.
Bitcoin Forecast and Analysis BTCUSD August 27, 2019 suggests an attempt to test the support level near the area of 9705. And then the cryptocurrency will continue to grow with a potential target at 13850. An additional signal in favor of the growth 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 8605 area. This will indicate a continued decline with a potential target below 7705.
Looking for the Best Forex Broker? We trade at RoboForex. You can receive a rebates from each trade when registering using our partner link
