Bitcoin BTC/USD traded at 7786 and continue to move within the downward correction and the upward channel. Cryptocurrency capitalization at the time of the publication of the forecast is $138 662 883 293. Moving averages indicate the presence of a bearish trend in Bitcoin. As part of the cryptocurrency exchange rate forecast for tomorrow, June 6, 2019, an attempt should be expected to decline and a test of the support level near the 7475 area. Where should we again expect a rebound and an attempt to continue the growth of the Bitcoin rate with a target above the 9185 area.
Bitcoin Forecast and Analysis BTC/USD June 6, 2019
In favor of the growth of BTC/USD quotes, a test of the rising trend line on the relative strength index (RSI) will be made. The second signal will be a rebound from the lower boundary of the rising channel. Cancellation of the Bitcoin rate growth option will be a fall and a breakdown of the 7405. This will indicate a breakdown of the lower boundary of the channel and a further decline in the Bitcoin rate with a potential target at 6850. With the breakdown of the resistance area and the closure of the cryptocurrency quotes above the level of the digital asset.
Bitcoin Forecast and Analysis BTC/USD June 6, 2019 implies an attempt to test the support level near the 7475 area. And further cryptocurrency growth with a potential target at the level of 9185. An additional signal in favor of raising the Bitcoin rate will be a test of the rising trend line on the relative strength index (RSI). Cancellation of the growth of cryptocurrency will be the fall and the breakdown of the 7405. This will indicate a continued decline with a potential target below 6850.
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