Bitcoin Forecast and Analysis BTC/USD May 12, 2020

BTC/USD are trading at 9043 and continue to move as part of the correction and the upward channel. Bitcoin cryptocurrency capitalization at the time of the publication of the forecast is $163 917 095 402. Moving averages indicate the presence of a short-term bullish trend in Bitcoin. Prices pushed from the area between the lines, indicating pressure from Digital Gold buyers. As part of the cryptocurrency rate forecast for tomorrow, May 12, 2020, we should expect an attempt to correct the value of the digital asset and test the support level near the area of ​​7855. Where again we should expect a rebound and an attempt to continue the growth of the Bitcoin rate with a target above the area of ​​11395.

Bitcoin Forecast and Analysis BTC/USD May 12, 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 Bitcoin exchange rate growth option will be a fall and a breakdown of the area of ​​7455. This will indicate a breakdown of the lower boundary of the rising channel and a continuation of the fall of the Bitcoin rate with a potential target at 6505. With the breakdown of the resistance area and closing of cryptocurrency quotes above 9955, we should expect confirmation of a rise in the rate of the digital asset .

Bitcoin Forecast and Analysis BTC/USD May 12, 2020 implies an attempt to test the support level near the area of ​​7855. And then, the cryptocurrency will continue to grow with a potential target at 11395. 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 ​​7455. This will indicate a continued decline with a potential target below the area of ​​6505.

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