BTC/USD are traded at 56151 and continue to move as part of the correction and the ascending channel. Bitcoin cryptocurrency capitalization at the time of the publication of the forecast is $1,047,896,859,608. Moving averages indicate a short-term bullish trend for Bitcoin. Prices went up from the area between the signal lines, which indicates pressure from buyers of “Digital Gold” and a potential continuation of the growth of the asset value from the current levels. As part of the cryptocurrency rate forecast for tomorrow, March 16, 2021, we should expect an attempt to develop a correction in the value of a digital asset and a test of the support level near the 50595 area. Where again should we expect a rebound and an attempt to raise the Bitcoin rate with a target above the 70055 area.
Bitcoin Forecast and Analysis BTC/USD March 16, 2021
An additional signal in favor of the growth of BTC/USD quotes will be a test of the trend line on the relative strength index (RSI). The second signal will be a rebound from the lower border of the ascending channel. Cancellation of the option to raise the rate and value of Bitcoin will be a fall in the value of the asset and a breakdown of the area of 47305. This will indicate a breakdown of the support area and the continuation of the fall in the Bitcoin rate with a potential target at 42505. With the breakdown of the resistance area and closing of cryptocurrency quotes above the level of 64005.
Bitcoin Forecast and Analysis BTC/USD March 16, 2021 suggests an attempt to test the support level near the 50595 area. And further, the cryptocurrency will continue to grow with a potential target at 70055. An additional signal in favor of the Bitcoin rate growth will be a test of the support line on the relative strength index (RSI). Cancellation of the cryptocurrency growth option will be a fall and a breakdown of the 47305 area. This will indicate a continued decline with a potential target below the 42505 area.
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