BTC/USD are trading at 8223 and continue to move as part of the fall and the downward channel. Bitcoin cryptocurrency capitalization at the time of the publication of the forecast is $161 701 669 965. Moving averages indicate the presence of a short-term bearish trend for Bitcoin. Prices have gone down from the area between the lines, indicating pressure from digital gold sellers. As part of the cryptocurrency rate forecast for tomorrow, February 28, 2020, we should expect an attempt to increase the value of the digital asset and test the resistance level near the area of 9245. Where again we should expect a rebound and an attempt to continue the fall of the Bitcoin rate with a target below the area of 7805.
Bitcoin Forecast and Analysis BTC/USD February 28, 2020
An additional signal in favor of falling BTC/USD quotes will be a test of a downward trend line on the relative strength index (RSI). The second signal will be a rebound from the upper boundary of the downward channel. Cancellation of the Bitcoin depreciation option will be a strong growth and a breakdown of the area of 9715. This will indicate a breakdown of the upper border of the channel and continued growth of the Bitcoin rate with a potential target at the level of 10505. With the breakdown of the support area and closing of cryptocurrency quotes below the level of 8305, we should expect confirmation of a decrease in the rate of the digital asset .
Bitcoin Forecast and Analysis BTC/USD February 28, 2020 suggests an attempt to test the resistance level near the area of 9245. And then, the cryptocurrency will continue to fall with a potential target at 7805. An additional signal in favor of the Bitcoin exchange rate will be the resistance line test on the relative strength index (RSI). Cancellation of the option of falling cryptocurrency will be a strong growth and the breakdown of the area of 9715. This will indicate a continuation of the rise with a potential target above the area of 10505.
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