BTC/USD are trading at 9553 and continue to move as part of the growth and formation of the «Double Top» reversal pattern. Bitcoin cryptocurrency capitalization at the time of the publication of the forecast is $176 675 683 779. Moving averages indicate the presence of a short-term bullish trend for Bitcoin. Prices pushed from the area between the lines up, indicating pressure from the buyers of Digital Gold. As part of the cryptocurrency rate forecast for tomorrow, May 15, 2020, one should expect an attempt to continue to grow in the value of the digital asset and test the resistance level near the area of 9965. Where again we should expect a rebound and an attempt to continue to fall in the Bitcoin rate with the target below the area of 7505.
Bitcoin Forecast and Analysis BTC/USD May 15, 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 bullish channel. Cancellation of the option to drop the Bitcoin exchange rate and value will be a strong growth and a breakdown of the area 10105. This will indicate a breakdown of the resistance area and the continuation of the rise in the Bitcoin rate with a potential target at 10955. With the breakdown of the support area and closing of cryptocurrency quotes below the level of 8055, we should expect confirmation of a fall in the digital rate asset and start working out the «Double Top» model.
Bitcoin Forecast and Analysis BTC/USD May 15, 2020 implies an attempt to test the resistance level near the area of 9965. And then, the cryptocurrency will continue to fall with a potential target at the level of 7505. 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 10105. This will indicate a continuation of the rise with a potential target above the area of 10955.
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