BTC/USD are trading at 8870 and continue to move as part of the correction and the formation of the «Triangle» model. Bitcoin cryptocurrency capitalization at the time of the publication of the forecast is $163 367 320 584. 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, May 13, 2020, one should expect an attempt to correct the value of the digital asset and test the resistance level near the area of 9105. Where again we should expect a rebound and an attempt to continue the fall of the Bitcoin rate with the target below 7275.
Bitcoin Forecast and Analysis BTC/USD May 13, 2020
An additional signal in favor of falling BTC/USD quotes will be a test of a downward 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 drop the Bitcoin exchange rate and value will be a strong growth and a breakdown of the 9655 area. This will indicate a breakdown of the resistance area and a continued rise in the Bitcoin rate with a potential target at 10105. With the breakdown of the support area and closing of cryptocurrency quotes below the level of 8005, we should expect confirmation of a fall in the digital rate asset and start working out the «Triangle» model.
Bitcoin Forecast and Analysis BTC/USD May 13, 2020 suggests an attempt to test the resistance level near the area of 9105. And then, the cryptocurrency will continue to fall with a potential target at 7275. 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 the breakdown of the area of 9655. This will indicate a continuation of the rise with a potential target above the area of 10105.
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