BTC/USD are trading at 9738 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 $176 068 675 110. Moving averages indicate the presence of a short-term bullish trend for Bitcoin. Prices returned to the area between the lines, indicating pressure from digital gold sellers. As part of the cryptocurrency rate forecast for tomorrow, February 19, 2020, one should expect an attempt to lower the value of the digital asset and test the support level near the area of 9505. 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 11465.
Bitcoin Forecast and Analysis BTC/USD February 19, 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 8785 area. This will indicate a breakdown of the lower border of the channel and a continuation of the fall of the Bitcoin rate with a potential target at 8055. With the breakdown of the resistance area and closing of cryptocurrency quotes above 10725, we should expect confirmation of a growth in the digital asset rate.
Bitcoin Forecast and Analysis BTC/USD February 19, 2020 suggests an attempt to test the support level near the area of 9505. And then, the cryptocurrency will continue to grow with a potential target at 11465. 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 8785 area. This will indicate a continued decline with a potential target below the 8055 area.
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