Bitcoin BTC/USD are trading at 11694 and continue to move as part of the growth and downward channel. Cryptocurrency capitalization at the time of the publication of the forecast is $209 722 748 634. Moving averages indicate the presence of an upward trend in Bitcoin. As part of the cryptocurrency rate forecast for tomorrow, August 9, 2019, we should expect an attempt to reduce and test the support level near the area of 10750. 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 14175.
Bitcoin Forecast and Analysis BTCUSD August 9, 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 10400 area. This will indicate a breakdown of the lower boundary of the channel and a continued fall of the Bitcoin rate with a potential target at the level of 9350. With the breakdown of the resistance area and closing of cryptocurrency quotes above the level of 12250, we should expect confirmation of the growth of the digital asset rate.
Bitcoin Forecast and Analysis BTCUSD August 9, 2019 suggests an attempt to test the support level near the area of 10750. And then the cryptocurrency will continue to grow with a potential target at the level of 14175. 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 10400 area. This will indicate a continued decline with a potential target below 9350.
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