Bitcoin BTC/USD are traded at 7801 and continue to move as part of the growth and ascending channel. Cryptocurrency capitalization at the time of the publication of the forecast is $139 163 713 695. Moving averages indicate a bullish Bitcoin trend. As part of the cryptocurrency exchange rate forecast for May 23, 2019, we expect an attempt to develop a correction and a test of the support level near the 7205. Where will the rebound again be expected and an attempt to continue the growth of the Bitcoin rate with a target above the 9275 area.
Bitcoin Forecast and Analysis BTC/USD May 23, 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 6825 area. This will indicate a breakdown of the lower boundary of the upward channel and a continued decline of the Bitcoin rate with a potential target at 6250. With the breakdown of the resistance area and the closure of cryptocurrency quotes above the 8635.
Bitcoin Forecast and Analysis BTC/USD May 23, 2019 implies an attempt to test the support level near 7205. And further, the cryptocurrency will continue to grow with a potential goal of 9275. 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 option of cryptocurrency growth will fall and the breakdown of the 6825 region. This will indicate a continued decline with a potential target below 6250.
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