BTC/USD are trading at 9572 and continue to move as part of the growth and upward channel. Bitcoin cryptocurrency capitalization at the time of the publication of the forecast is $176 416 330 031. Moving averages indicate the presence of a short-term bullish trend for Bitcoin. Prices pound the area between the lines, which indicates pressure from Digital Gold buyers. As part of the cryptocurrency rate forecast for tomorrow, June 2, 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 9375. Where again we should expect a rebound and an attempt to continue the rise in the Bitcoin rate with the target above the area of 9965.
Bitcoin Forecast and Analysis BTC/USD June 2, 2020
An additional signal in favor of the growth of BTC/USD quotes will be a test of the ascending 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 value of Bitcoin will be a fall in the value of the asset and a breakdown of the area of 9185. This will indicate a breakdown of the support area and a continuation of the fall of the Bitcoin rate with a potential target at 8465. With the breakdown of the resistance area and the closure of cryptocurrency quotes above the level of 9765, we should expect confirmation of a rise in the rate digital asset.
Bitcoin Forecast and Analysis BTC/USD June 2, 2020 implies an attempt to test the support level near the area of 9375. And then, the cryptocurrency will continue to grow with a potential target at 9965. 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 area of 9185. This will indicate a continuation of the fall with a potential target below the area of 8465.
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