Bitcoin Forecast and Analysis BTC/USD May 14, 2021

BTC/USD are trading at 50121 and continue to move as part of the fall and the formation of the bullish ”Wolfe Wave” pattern. Bitcoin cryptocurrency capitalization at the time of the publication of the forecast is $941,796,393,806. Moving averages indicate a short-term bearish trend for Bitcoin. Prices broke through the area between the signal lines down again, which indicates pressure from the sellers of “Digital Gold” and a potential continuation of the fall in the value of the asset from the current levels. As part of the cryptocurrency rate forecast for tomorrow, May 14, 2021, we should expect an attempt to develop a decrease in the value of a digital asset and a test of the support level near the 43505 area. Where again should we expect a rebound and an attempt to increase the Bitcoin rate with a target above the 65005 area.

Bitcoin Forecast and Analysis BTC/USD May 14, 2021

An additional signal in favor of raising the BTC/USD quotes will be a test of the bullish trend line on the relative strength index (RSI). The second signal will be a rebound from the lower border of the bullish ”Wolfe Wave” pattern. 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 37055 area. This will indicate a breakdown of the support area and a continued fall in the Bitcoin exchange rate with a potential target at 32505.

Bitcoin Forecast and Analysis BTC/USD May 14, 2021 implies an attempt to test the support level near the 43505 area. And further, the cryptocurrency will continue to grow with a potential target at 65005. An additional signal in favor of the Bitcoin rate rise 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 37055 area. This will indicate a continued decline with a potential target below the 32505 area.

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