BTC/USD are trading at 9308 and continue to move as part of the fall and the formation of the «Head and Shoulders» reversal pattern. Bitcoin cryptocurrency capitalization at the time of the publication of the forecast is $171 832 618 685. Moving averages indicate the presence of a short-term bullish trend for Bitcoin. Prices have pierced the area between the lines down, indicating 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 25, 2020, we should expect an attempt to develop a correction in the value of the digital asset and a test of the resistance level near the area of 9565. 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 8685.
Bitcoin Forecast and Analysis BTC/USD June 25, 2020
An additional signal in favor of falling BTC/USD quotes will be a test of the trend line on the relative strength index (RSI). The second signal will be the completion of the formation of the reversal model. Cancellation of the option to drop the Bitcoin exchange rate and value will be a strong increase in the value of the asset and the breakdown of the 9965 area. This will indicate a breakdown of the resistance area and continued growth of the Bitcoin exchange rate with a potential target at 11095. With the breakdown of the support area and closing of the cryptocurrency quotes, the fall of 9035 should be expected to confirm the fall digital asset rate.
Bitcoin Forecast and Analysis BTC/USD June 25, 2020 implies an attempt to test the resistance level near the area of 9565. And then, the cryptocurrency will continue to fall with a potential target of 8685. 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 the breakdown of the area of 9965. This will indicate a continuation of the rise with a potential target above the area of 11095.
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