BTC/USD are trading at 9783 and continue to move as part of the growth and bullish channel. Bitcoin cryptocurrency capitalization at the time of the publication of the forecast is $180 485 473 338. Moving averages indicate the presence of a short-term bullish trend for Bitcoin. Prices are testing the areas between the lines, which indicates pressure from the buyers of Digital Gold and the potential continuation of the rise in the value of the asset. As part of the cryptocurrency rate forecast for tomorrow, June 5, 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 9565. Where again we should expect a rebound and an attempt to continue the rise of the Bitcoin rate with the target above the area of 10705.
Bitcoin Forecast and Analysis BTC/USD June 5, 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 rebound from the lower boundary of the ascending 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 9050 area. This will indicate a breakdown of the support area and a continued decline in the Bitcoin exchange rate with a potential target at 8025. 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 5, 2020 implies an attempt to test the support level near the area of 9565. And then, the cryptocurrency will continue to grow with a potential target at 10705. 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 9050 area. This will indicate a continued fall with a potential target below the 8025 area.
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