BTC/USD are trading at 9352 and continue to move as part of the growth and formation of the «Triangle» model. Bitcoin cryptocurrency capitalization at the time of the publication of the forecast is $173 396 430 290. Moving averages indicate the presence of a short-term bullish trend for Bitcoin. Prices are testing the area between the lines, which indicates pressure from the buyers of Digital Gold and the potential continuation of the rise in the value of the asset. As part of the cryptocurrency rate forecast for tomorrow, June 16, 2020, one should expect an attempt to develop a correction in the value of the digital asset and a test of the support level near the area of 9155. Where again we should expect a rebound and an attempt to continue the rise of the Bitcoin rate with the target above the area of 10955.
Bitcoin Forecast and Analysis BTC/USD June 16, 2020
An additional signal in favor of the growth of BTC/USD quotes will be a test of the upward trend line on the relative strength index (RSI). The second signal will be a rebound from the lower boundary of the «Triangle» model. Cancellation of the option to increase the exchange rate and the value of Bitcoin will be a fall in the value of the asset and a breakdown of the area of 8405. This will indicate a breakdown of the support area and a continuation of the fall of the Bitcoin rate with a potential target at 7605. With the breakdown of the resistance area and closing of cryptocurrency quotes above 10205, we should expect confirmation of a rise in the rate digital asset.
Bitcoin Forecast and Analysis BTC/USD June 16, 2020 suggests an attempt to test the support level near the area of 9155. And then, the cryptocurrency will continue to grow with a potential target at 10955. 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 8405 area. This will indicate a continued fall with a potential target below the 7605 area.
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