BTC/USD are trading at 7465 and continue to move as part of the correction and the upward channel. Bitcoin cryptocurrency capitalization at the time of the publication of the forecast is $133 523 331 715. Moving averages indicate the presence of a short-term bearish trend for Bitcoin. Prices are testing the area between the signal lines, which indicates pressure from sellers of the leading digital asset. As part of the cryptocurrency rate forecast for tomorrow, December 6, 2019, we should expect an attempt to drop the value of the digital asset and test the support level near the area of 7205. 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 8535.
Bitcoin Forecast and Analysis BTC/USD December 6, 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 ascending channel. Cancellation of the Bitcoin exchange rate growth option will be a fall and a breakdown of the area of 6905. This will indicate a breakdown of the lower boundary of the channel and a continued fall of the Bitcoin rate with a potential target at 6135. With the breakdown of the resistance area and closing of cryptocurrency quotes above 7765, we should expect confirmation of a growth in the rate of the digital asset.
Bitcoin Forecast and Analysis BTC/USD December 6, 2019 suggests an attempt to test the support level near the area of 7205. And then, the cryptocurrency will continue to grow with a potential target at 8535. 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 6905. This will indicate a continuation of the fall with a potential target below the area of 6135.
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