BTC/USD are trading at 5360 and continue to move as part of the fall and the formation of the «Triangle» model. Bitcoin cryptocurrency capitalization at the time of the publication of the forecast is $95 839 045 053. Moving averages indicate the presence of a short-term bearish trend for Bitcoin. Prices are testing the area between the lines, which indicates pressure from the sellers of Digital Gold. As part of the cryptocurrency rate forecast for tomorrow, March 19, 2020, one should expect an attempt to correct the value of the digital asset and test the resistance level near the area of 5415. From 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 3275.
Bitcoin Forecast and Analysis BTC/USD March 19, 2020
An additional signal in favor of falling BTC/USD quotes will be a test of the broken trend line on the relative strength index (RSI). The second signal will be a rebound from the upper boundary of the downward channel. Cancellation of the Bitcoin depreciation option will be a strong growth and a breakdown of the area of 6335. This will indicate a breakdown of the upper border of the channel and continued growth of the Bitcoin rate with a potential target at 7625. With the breakdown of the support area and closing of cryptocurrency quotes below the level of 4105, we should expect confirmation of a digital asset depreciation.
Bitcoin Forecast and Analysis BTC/USD March 19, 2020 suggests an attempt to test the resistance level near the area of 5415. And then, the cryptocurrency will continue to fall with a potential target at 3275. 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 a breakdown of the area of 6335. This will indicate a continuation of the rise with a potential target above the area of 7625.
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