BTC/USD are trading at 7122 and continue to move as part of the fall and the formation of the bullish «Wolfe Wave» pattern. Bitcoin cryptocurrency capitalization at the time of the publication of the forecast is $123 803 169 311. Moving averages indicate the presence of a short-term bearish trend for Bitcoin. Prices are testing the area between the signal lines, indicating a potential bounce down from current levels. As part of the cryptocurrency rate forecast for tomorrow, December 20, 2019, we should expect an attempt to drop the value of the digital asset and test the support level near the area of 6325. 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 9605.
Bitcoin Forecast and Analysis BTC/USD December 20, 2019
An additional signal in favor of the growth of BTC/USD quotes will be a test of the broken trend line on the relative strength index (RSI). Cancellation of the option to raise the Bitcoin rate will be a fall and a breakdown of the area of 5505. 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 4155. With the breakdown of the resistance area and closing of cryptocurrency quotes above 7655, we should expect confirmation of a growth in the rate of the digital asset.
Bitcoin Forecast and Analysis BTC/USD December 20, 2019 suggests an attempt to test the support level near the area of 6325. And then, the cryptocurrency will continue to grow with a potential target at the level of 9605. 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 5505. This will indicate a continued decline with a potential target below the area of 4155.
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