BTC/USD are trading at the level of 53273 and continue to move within the framework of a strong fall and a downward channel. The capitalization of the cryptocurrency Bitcoin at the time of the publication of the forecast is $914,485,326,449. Moving averages indicate a short-term bearish trend for Bitcoin. Prices are again testing the area between the signal lines, which indicates pressure from the sellers of Digital Gold and a potential continuation of the fall in the asset value from the current levels. As part of the cryptocurrency rate forecast for tomorrow, February 24, 2021, we should expect an attempt to develop a correction in the value of a digital asset and a test of the resistance level near the 50435 area. Where again should we expect a rebound and an attempt to fall in the Bitcoin rate with a target below the 40905 area.
Bitcoin Forecast and Analysis BTC/USD February 24, 2021
An additional signal in favor of reducing the BTC/USD quotes will be a test of the trend line on the relative strength index (RSI). The second signal will be a rebound from the upper border of the descending channel. Cancellation of the option to drop the Bitcoin rate and value will be a strong growth in the value of the asset and a breakdown of the area of 53005. This will indicate a breakdown of the resistance area and a continued rise in the Bitcoin rate with a potential target at 57905. With the breakdown of the support area and closing of cryptocurrency quotes below 45205.
Bitcoin Forecast and Analysis BTC/USD February 24, 2021 suggests an attempt to test the resistance level near the area of 50435. And further, the cryptocurrency will continue to fall with a potential target at 40905. An additional signal in favor of a decline in the Bitcoin rate will be a test of the resistance line on the relative strength index (RSI). Cancellation of the option of falling cryptocurrency will be a strong growth and a breakdown of the 53005 area. This will indicate a continued rise with a potential target above the 57905 area.
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