BTC/USD are traded at 40051 and continue to move as part of the growth and left the descending channel. The capitalization of the Bitcoin cryptocurrency at the time of the publication of the forecast is $ 749,736,536,835. Moving averages indicate a short-term bearish trend for Bitcoin. Prices are 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 value of the asset from the current levels. As part of the cryptocurrency rate forecast for tomorrow, June 16, 2021, we should expect an attempt to develop a decrease in the value of a digital asset and a test of the support level near the 38505 area. Where again should we expect a rebound and an attempt to grow the Bitcoin rate with a target above the 54505 area.
Bitcoin Forecast and Analysis BTC/USD June 16, 2021
An additional signal in favor of raising the BTC/USD quotes will be a test of the broken trend line on the relative strength index (RSI). The second signal will be a rebound from the upper border of the “Double Bottom” reversal pattern. Cancellation of the option to raise the rate and value of Bitcoin will be a fall in the value of the asset and a breakdown of the area of 32055. This will indicate a breakdown of the support area and the continuation of the fall in the Bitcoin rate with a potential target at 25005. Confirmation of the rise in the price of an asset will be a breakdown of the resistance area with the price fixing above the level of 45005.
Bitcoin Forecast and Analysis BTC/USD June 16, 2021 suggests an attempt to test the support level near the 38505 area. And further, the cryptocurrency will continue to grow with a potential target at 54505. An additional signal in favor of the Bitcoin rate rise will be a test of the support line on the relative strength index (RSI). Cancellation of the cryptocurrency growth option will be a fall and a breakdown of the area of 32055. This will indicate a continued decline with a potential target below the area of 25005.
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