Bitcoin BTC/USD are traded at 7874 and continue to move within the growth and ascending channel. Cryptocurrency capitalization at the time of the publication of the forecast is $139 733 573 451. Moving averages indicate the presence of a bullish trend in Bitcoin. As part of the cryptocurrency exchange rate forecast for May 21, 2019, we should expect an attempt to develop a correction and a test of the support level near the region of 7350. Where should we again expect a rebound and an attempt to continue the growth of the Bitcoin rate with a target above the 9250 region.
Bitcoin Forecast and Analysis BTC/USD May 21, 2019
In favor of the growth of BTC/USD quotes, a test of the rising trend line on the relative strength index (RSI) will be made. The second signal will be a rebound from the lower boundary of the rising channel. Cancellation of the Bitcoin growth rate will be a fall and a breakdown of the 6520 area. This will indicate a breakdown of the lower boundary of the upward channel and a continued decline in the Bitcoin rate with a potential target at 6050. With the breakdown of the resistance area and the closure of cryptocurrency quotes above the digital asset .
Bitcoin Forecast and Analysis BTC/USD May 21, 2019 implies an attempt to test the support level near the 7350 area. And further cryptocurrency growth continues with a potential goal of 9250. An additional signal in favor of raising the Bitcoin rate will be a test of the rising trend line on the relative strength index (RSI). Cancellation of the cryptocurrency growth option will be a fall and a breakdown of the 6520 area. This will indicate a continued decline with a potential target below 6050.
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