BTC/USD are trading at the level of 18663 and continue to move within a good growth and an upward channel. The capitalization of the Bitcoin cryptocurrency at the time of the publication of the forecast is $345,348,163,800. Moving averages indicate a short-term bullish trend for Bitcoin. Prices went up from the area between the lines, which indicates pressure from buyers of Digital Gold and a potential continuation of the growth of the asset value from the current levels. As part of the cryptocurrency rate forecast for tomorrow, December 1, 2020, we should expect an attempt to develop a correction in the value of a digital asset and a test of the support level near the 18045 area. Where again should we expect a rebound and an attempt to raise the Bitcoin rate with a target above the 20515 area.
Bitcoin Forecast and Analysis BTC/USD December 1, 2020
An additional signal in favor of the growth of BTC/USD quotes will be a test of the trend line on the relative strength index (RSI). The second signal will be a rebound of the upper border of the descending channel. Cancellation of the growth rate and value of Bitcoin will be a fall in the value of the asset and a breakdown of the 16505 area. This will indicate a breakdown of the support area and a continuation of the fall in the Bitcoin rate with a potential target at 15705. With the breakdown of the resistance area and closing of cryptocurrency quotes above the level of 19605.
Bitcoin Forecast and Analysis BTC/USD December 1, 2020 suggests an attempt to test the support level near the 18045 area. And further, the cryptocurrency will continue to grow with a potential target at 20515. An additional signal in favor of the Bitcoin rate rise will be a test of the support line on the relative strength index (RSI). Cancellation of the cryptocurrency growth option will be a fall and a breakdown of the 16505 area. This will indicate a continued decline with a potential target below the 19605 area.
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