Bitcoin BTC/USD traded at 7981 and continue to move as part of the growth and formation of the «Triangle» model. Cryptocurrency capitalization at the time of the publication of the forecast is $140 466 107 952. Moving averages indicate the presence of an upward trend in Bitcoin. As part of the cryptocurrency exchange rate forecast for tomorrow, May 22, 2019, we expect an attempt to develop a correction and a test of the support level near the 7515 area. Where again we should expect a rebound and an attempt to continue the growth of the Bitcoin rate with a target above the 9035 area.
Bitcoin Forecast and Analysis BTC/USD May 22, 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 6625 area. This will indicate a breakdown of the lower boundary of the upward channel and a further decline in the Bitcoin rate with a potential target at 6150. With the breakdown of the resistance area and the closure of cryptocurrency quotes above the 8635.
Bitcoin Forecast and Analysis BTC/USD May 22, 2019 suggests an attempt to test the support level near 7515. And further cryptocurrency growth continues with a potential goal of 9035. An additional signal in favor of raising the Bitcoin rate will be a test of the trend uptrend on the relative strength index (RSI). Cancellation of the growth of cryptocurrency will be the fall and the breakdown of the area 6625. This will indicate a continued decline with a potential target below 6150.
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