BTC/USD are trading at 10164 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 $176 573 227 516. Moving averages indicate the presence of a short-term bullish trend for Bitcoin. Prices have gone far up from the area between the lines, which indicates pressure from Digital Gold buyers and a potential continuation of the rise in the value of the asset. As part of the cryptocurrency rate forecast for tomorrow, June 3, 2020, we 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 9725. Where again we should expect a rebound and an attempt to continue to increase the Bitcoin rate with the target above the area of 11205.
Bitcoin Forecast and Analysis BTC/USD June 3, 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 ascending channel. Cancellation of the option to increase the exchange rate and the value of Bitcoin will be a fall in the value of the asset and a breakdown of the area of 9355. This will indicate a breakdown of the support area and a continuation of the fall of the Bitcoin rate with a potential target at 8505. With the breakdown of the resistance area and closing of cryptocurrency quotes above 10505, we should expect confirmation of a rise in the rate digital asset.
Bitcoin Forecast and Analysis BTC/USD June 3, 2020 implies an attempt to test the support level near the area of 9725. And then, the cryptocurrency will continue to grow with a potential target at 11205. 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 9355. This will indicate a continuation of the fall with a potential target below the area of 8505.
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