BTC/USD are trading at 9457 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 $179 458 805 813. 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 21, 2020, we should expect an attempt to develop a correction in the value of the digital asset and a test of the support level near the area of 9205. 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 10945.
Bitcoin Forecast and Analysis BTC/USD May 21, 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 option to increase the exchange rate and value of Bitcoin will be a fall and a breakdown of the area of 8505. This will indicate a breakdown of the support area and a continuation of the fall of the Bitcoin rate with a potential target at 7405. With the breakdown of the resistance area and the closure of cryptocurrency quotes above 10205, we should expect confirmation of a growth in the digital asset rate.
Bitcoin Forecast and Analysis BTC/USD May 21, 2020 suggests an attempt to test the support level near the area of 9205. And then, the cryptocurrency will continue to grow with a potential target at 10945. 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 8505 area. This will indicate a continued fall with a potential target below the 7405 area.
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