Bitcoin Forecast and Analysis BTC/USD February 11, 2020

BTC/USD are trading at 9810 and continue to move as part of the growth and upward channel. Quotes checked the strength of the level of 10000. Bitcoin cryptocurrency capitalization at the time of the publication of the forecast is $180 302 619 837. Moving averages indicate the presence of a short-term bullish trend for Bitcoin. Prices continue to push from the area between the lines, indicating bullish pressure. As part of the cryptocurrency rate forecast for February 11, 2020, we should expect an attempt to lower the value of the digital asset and test the support level near the area of ​​9355. Where again we should expect a rebound and an attempt to continue the growth of the Bitcoin rate with the target above the area of ​​10945.

Bitcoin Forecast and Analysis BTC/USD February 11, 2020

An additional signal in favor of the growth of BTC/USD quotes will be an uptrend test on the relative strength index (RSI). The second signal will be a rebound from the lower boundary of the ascending channel. Cancellation of the option to raise the Bitcoin exchange rate will be a fall and a breakdown of the 8755 area. This will indicate a breakdown of the lower border of the channel and a continuation of the fall of the Bitcoin exchange rate with a potential target at 8045. With the breakdown of the resistance area and closing of cryptocurrency quotes above 10155, we should expect confirmation of a growth in the digital asset rate.

Bitcoin Forecast and Analysis BTC/USD February 11, 2020 implies an attempt to test the support level near the area of ​​9355. And then, the cryptocurrency will continue to grow with a potential target at 10945. 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 8755 area. This will indicate a continued decline with a potential target below the 8045 area.

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