BTC/USD are trading at 9413 and continue to move as part of the decline and the bearish channel. Bitcoin cryptocurrency capitalization at the time of the publication of the forecast is $170 247 766 333. Moving averages indicate a bearish trend in Bitcoin. As part of the cryptocurrency rate forecast for tomorrow, August 30, 2019, we should expect an attempt to correct and test the resistance level near area 9835. Where again we should expect a rebound and an attempt to continue the fall of the Bitcoin rate with a target below area 8805.
Bitcoin Forecast and Analysis BTC/USD August 30, 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 upper boundary of the downward channel. Cancellation of the Bitcoin depreciation option will be a strong growth and a breakdown of the area of 10215. This will indicate a breakdown of the resistance area and a continued rise in the Bitcoin rate with a potential target at 11005. With the breakdown of the support area and closing of cryptocurrency quotes below the level of 9140, we should expect confirmation of a decline in the rate of the digital asset.
Bitcoin Forecast and Analysis BTC/USD August 30, 2019 suggests an attempt to test the resistance level near the area of 9835. And then the cryptocurrency will continue to fall with a potential target at the level of 8805. 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 10215. This will indicate a continuation of the rise with a potential target above 11005.
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