BTC/USD are trading at 9213 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 $165 184 200 807. Moving averages indicate the presence of a short-term bullish trend for Bitcoin. Prices have broken down the area between the lines, indicating pressure from digital gold sellers. As part of the cryptocurrency rate forecast for tomorrow, February 27, 2020, we should expect an attempt to lower the value of the digital asset and test the support level near the 8925 area. Where again we should expect a rebound and an attempt to continue the growth of the Bitcoin exchange rate with the target above 11105.
Bitcoin Forecast and Analysis BTC/USD February 27, 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 8305 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 7765. With the breakdown of the resistance area and closing of cryptocurrency quotes above 9855, we should expect confirmation of a growth in the digital asset rate. which will indicate a breakdown of the upper boundary of the «Wedge» model.
Bitcoin Forecast and Analysis BTC/USD February 27, 2020 implies an attempt to test the support level near the 8925 area. And then, the cryptocurrency will continue to grow with a potential target at 11105. 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 8305 area. This will indicate a continued decline with a potential target below the 7765 area.
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