BTC/USD are trading at 9588 and continue to move as part of the fall and the formation of the «Wedge» model. Bitcoin cryptocurrency capitalization at the time of the publication of the forecast is $174 909 815 930. Moving averages indicate the presence of a short-term bullish trend for Bitcoin. Prices pushed from the area between the lines, indicating pressure from buyers of digital gold. As part of the cryptocurrency rate forecast for tomorrow, February 26, 2020, one should expect an attempt to lower the value of the digital asset and test the support level near the area of 9255. 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 11165.
Bitcoin Forecast and Analysis BTC/USD February 26, 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 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 continued fall of the Bitcoin rate with a potential target at 8165. With the breakdown of the resistance area and closing of cryptocurrency quotes above 9855, we should expect confirmation of a growth in the rate of the digital asset. which will indicate a breakdown of the upper boundary of the Wedge model.
Bitcoin Forecast and Analysis BTC/USD February 26, 2020 suggests an attempt to test the support level near the area of 9255. And then, the cryptocurrency will continue to grow with a potential target at 11165. 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 8165 area.
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