BTC/USD are trading at 7208 and continue to move as part of the correction and the formation of the «Triangle» model. Bitcoin cryptocurrency capitalization at the time of the publication of the forecast is $132 054 518 061. Moving averages indicate the presence of a short-term bearish trend for Bitcoin. Prices are far from signal lines, indicating pressure from sellers. As part of the cryptocurrency rate forecast for tomorrow, December 12, 2019, one should expect an attempt to drop the value of a digital asset and test the support level near the area of 7125. 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 8305.
Bitcoin Forecast and Analysis BTC/USD December 12, 2019
An additional signal in favor of the growth of BTC/USD quotes will be a test of the upward trend line on the relative strength index (RSI). The second signal will be a rebound from the lower boundary of the «Triangle» model. Cancellation of the Bitcoin exchange rate growth option will be a fall and a breakdown of the area of 6785. This will indicate a breakdown of the lower boundary of the model and a continuation of the fall of the Bitcoin rate with a potential target at 6165. With the breakdown of the resistance area and closing of cryptocurrency quotes above 7805, we should expect confirmation of a growth in the digital asset rate. This will indicate a breakdown of the upper boundary of the «Triangle» model.
Bitcoin Forecast and Analysis BTC/USD December 12, 2019 suggests an attempt to test the support level near the area of 7125. And then, the cryptocurrency will continue to grow with a potential target at the level of 8305. An additional signal in favor of the Bitcoin appreciation will be the support line test on the relative strength index (RSI). Cancellation of the cryptocurrency growth option will be a fall and a breakdown of the area of 6785. This will indicate a continuation of the fall with a potential target below the area of 6165.
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