Bitcoin BTC/USD are trading at 7608 and continue to move as part of the correction and the formation of the «Triangle» model. Cryptocurrency capitalization at the time of the publication of the forecast is $135 010 370 079. Moving averages indicate a bullish Bitcoin trend. As part of the cryptocurrency exchange rate forecast for tomorrow, May 24, 2019, we expect an attempt to develop a correction and a test of the support level near the 7265 region. Where again we should expect a rebound and an attempt to continue the growth of the Bitcoin rate with a target above the 9255 area.
Bitcoin Forecast and Analysis BTC/USD May 24, 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 in the Bitcoin rate with a potential target at 6450. With the breakdown of the resistance area and the closure of cryptocurrency quotes above the 8335 rate.
Bitcoin Forecast and Analysis BTC/USD May 24, 2019 implies an attempt to test the support level near the 7265 area. And further cryptocurrency growth with a potential target at 9255. 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 6450.