BTC/USD are trading at 7278 and continue to move as part of the decline and the downward channel. Bitcoin cryptocurrency capitalization at the time of the publication of the forecast is $131 789 936 616. Moving averages indicate the presence of a short-term bullish trend for Bitcoin. As part of the cryptocurrency rate forecast for tomorrow, December 3, 2019, we should expect an attempt to drop the value of the digital asset and test the support level near the area of 6505. 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 9005.
Bitcoin Forecast and Analysis BTC/USD December 3, 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 the completion of the formation of the «Double Bottom» reversal pattern. Cancellation of the Bitcoin exchange rate growth option will be a fall and a breakdown of the 6235 area. This will indicate a breakdown of the lower boundary of the channel and a continued fall of the Bitcoin exchange rate with a potential target at 5650. 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.
Bitcoin Forecast and Analysis BTC/USD December 3, 2019 suggests an attempt to test the support level near the area of 6505. And then, the cryptocurrency will continue to grow with a potential target at 9005. 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 6235. This will indicate a continuation of the fall with a potential target below the area of 5650.
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