Bitcoin Forecast and Analysis BTC/USD December 17, 2019

BTC/USD are trading at 7094 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 $129 568 979 308. Moving averages indicate the presence of a short-term bearish trend for Bitcoin. Prices continue to build on signal lines, indicating pressure from sellers. As part of the cryptocurrency rate forecast for tomorrow, December 17, 2019, one should expect an attempt to increase the value of a digital asset and test the resistance level near the area of ​​7185. Where again we should expect a rebound and an attempt to continue the fall of the Bitcoin rate with a target below the area of ​​6005.

Bitcoin Forecast and Analysis BTC/USD December 17, 2019

An additional signal in favor of falling BTC/USD quotes will be a test of a downward trend line on the relative strength index (RSI). The second signal will be a rebound from the upper boundary of the «Triangle» model. Cancellation of the Bitcoin depreciation option will be a strong growth and a breakdown of the 7805 area. This will indicate a breakdown of the upper boundary of the model and continued growth of the Bitcoin rate with a potential target at 8205. With the breakdown of the support area and closing of cryptocurrency quotes below 6605, we should expect confirmation of a digital asset depreciation.

Bitcoin Forecast and Analysis BTC/USD December 17, 2019 suggests an attempt to test the resistance level near the area of ​​7185. And then, the cryptocurrency will continue to fall with a potential target at 6005. An additional signal in favor of the Bitcoin exchange rate will be the resistance line 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 ​​7805. This will indicate continued growth with a potential target above the area of ​​8205.

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