BTC/USD are trading at 9652 and continue to move as part of the reduction and development of the «Triangle» model. Bitcoin’s cryptocurrency capitalization at the time of the publication of the forecast is $174 620 545 665. Moving averages indicate a bearish trend in Bitcoin. As part of the cryptocurrency rate forecast for tomorrow, August 29, 2019, we should expect an attempt to grow and test the resistance level near the area of 9855. Where again we should expect a rebound and an attempt to continue the fall of the Bitcoin rate with a target below the area of 8405.
Bitcoin Forecast and Analysis BTC/USD August 29, 2019
In favor of lowering the BTC/USD quotes, a test of the resistance 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 depreciation option will be a strong growth and a breakdown of the 10700 area. This will indicate a breakdown of the resistance area and a continued rise in the Bitcoin rate with a potential target at 11505. With the breakdown of the support area and closing of cryptocurrency quotes below 9100, we should expect confirmation of a digital asset depreciation.
Bitcoin Forecast and Analysis BTC/USD August 29, 2019 suggests an attempt to test the resistance level near the area of 9855. And then the cryptocurrency will continue to fall with a potential target at the level of 8405. An additional signal in favor of the Bitcoin exchange rate will be the resistance area test on the relative strength index (RSI). Cancellation of the option of falling cryptocurrency will be a strong growth and a breakdown of the area of 10700. This will indicate a continuation of the rise with a potential target above 11505.
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