BTC/USD are trading at 10147 and continue to move as part of a strong fall and the formation of the bullish «Wolfe Wave» pattern. Bitcoin cryptocurrency capitalization at the time of the publication of the forecast is $174 789 785 362. Moving averages indicate the presence of a short-term bearish trend for Bitcoin. Prices pushed from the area between the lines, indicating pressure from digital gold sellers. As part of the cryptocurrency rate forecast for tomorrow, February 21, 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 10675.
Bitcoin Forecast and Analysis BTC/USD February 21, 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 area of 8905. This will indicate a breakdown of the lower boundary of the channel and a continuation of the fall of the Bitcoin rate with a potential target at the level of 8025. With the breakdown of the resistance area and closing of cryptocurrency quotes above the level of 9855, we should expect confirmation of a growth in the rate of the digital asset.
Bitcoin Forecast and Analysis BTC/USD February 21, 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 the level of 10675. 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 8905 area. This will indicate a continued decline with a potential target below the 8025 area.
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