BTC/USD are trading at 9491 and continue to move as part of the correction and the downward channel. Bitcoin cryptocurrency capitalization at the time of the publication of the forecast is $174 519 348 423. Moving averages indicate the presence of a short-term bearish trend for Bitcoin. Prices are testing the area between the lines, which indicates pressure from the sellers of Digital Gold and the potential continuation of the fall in the value of the asset. As part of the cryptocurrency rate forecast for tomorrow, June 19, 2020, one should expect an attempt to develop a correction in the value of a digital asset and a test of the support level near the area of 9105. Where again we should expect a rebound and an attempt to continue to increase the Bitcoin rate with a target above the area of 10265.
Bitcoin Forecast and Analysis BTC/USD June 19, 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 breakdown rather than the border of the downward channel. Cancellation of the option to increase the exchange rate and value of Bitcoin will be a fall in the value of the asset and a breakdown of the 8785 area. This will indicate a breakdown of the support area and a continued decline in the Bitcoin exchange rate with a potential target at 7525. With the breakdown of the resistance area and closing of cryptocurrency quotes above 9785, we should expect confirmation of a rise in the rate digital asset.
Bitcoin Forecast and Analysis BTC/USD June 19, 2020 suggests an attempt to test the support level near the area of 9105. And then, the cryptocurrency will continue to grow with a potential target at 10265. 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 8785 area. This will indicate a continued fall with a potential target below the 7525 area.
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