BTC/USD are trading at 9464 and continue to move as part of the correction and formation of the «Triangle». Bitcoin cryptocurrency capitalization at the time of the publication of the forecast is $173 997 379 582. Moving averages indicate the presence of a short-term bullish trend in Bitcoin. Prices are testing the area between the lines, which indicates pressure from the buyers of Digital Gold and the potential continuation of the growth in the value of the asset. As part of the cryptocurrency rate forecast for tomorrow, June 23, 2020, one should expect an attempt to develop a correction in the value of a digital asset and a test of the resistance level near the area of 9765. 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 7305.
Bitcoin Forecast and Analysis BTC/USD June 23, 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 breakdown rather than the border of the downward channel. Cancellation of the option to drop the exchange rate and the value of Bitcoin will be a strong increase in the value of the asset and a breakdown of the area of 10385. This will indicate a breakdown of the resistance area and continued growth of the Bitcoin exchange rate with a potential target at 11605. With the breakdown of the support area and the closing of cryptocurrency quotes, a drop of 8405 should be expected to confirm a fall digital asset rate.
Bitcoin Forecast and Analysis BTC/USD June 23, 2020 implies an attempt to test the resistance level near the area of 9765. And then, the cryptocurrency will continue to fall with a potential target at the level of 7305. 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 a breakdown of the area of 10385. This will indicate a continued rise with a potential target above the area of 11605.
Looking for the Best Forex Broker? We trade at RoboForex. You can receive a rebates from each trade when registering using our partner link