Bitcoin BTC/USD are trading at 12066 and continue to move as part of the growth and downward channel. Cryptocurrency capitalization at the time of the publication of the forecast is $ 209 857 868 858. Moving averages indicate the presence of an upward trend in Bitcoin. As part of the cryptocurrency rate forecast for tomorrow, August 8, 2019, we should expect an attempt to decrease and test the support level near the area of 10875. 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 12905.
Bitcoin Forecast and Analysis BTCUSD August 8, 2019
In favor of raising BTC/USD quotes, a test of the upward trend line on the relative strength index (RSI) will come out. The second signal will be a rebound from the lower boundary of the ascending channel. Cancellation of the Bitcoin exchange rate growth option will be a fall and a breakdown of the area of 10600. This will indicate a breakdown of the lower boundary of the channel and a continuation of the fall of the Bitcoin rate with a potential target at the level of 9250. With the breakdown of the resistance area and the closure of cryptocurrency quotes above 12450, we should expect confirmation of the growth of the digital asset rate.
Bitcoin Forecast and Analysis BTCUSD August 8, 2019 implies an attempt to test the support level near the area of 10875. And then the cryptocurrency will continue to grow with a potential target at the level of 12905. An additional signal in favor of the growth of the Bitcoin exchange rate will be the test of the upward trend line on the relative strength index (RSI). Cancellation of the cryptocurrency growth option will be a fall and a breakdown of the area of 10600. This will indicate a continued decline with a potential target below 9250.
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