BTC/USD are trading at 8795 and continue to move as part of the fall and the downward channel. Bitcoin cryptocurrency capitalization at the time of the publication of the forecast is $161 428 584 505. Moving averages indicate the presence of a short-term bearish trend for Bitcoin. Prices have gone far below the area between the lines, indicating pressure from Digital Gold sellers. As part of the cryptocurrency rate forecast for tomorrow, May 26, 2020, one should expect an attempt to develop a correction in the value of a digital asset and a test of the resistance level near the area of 8985. Where again we should expect a rebound and an attempt to continue the fall of the Bitcoin rate with a target below the area of 8125.
Bitcoin Forecast and Analysis BTC/USD May 26, 2020
An additional signal in favor of falling BTC/USD quotes will be a test of a downward trend line on the relative strength index (RSI). The second signal will be a rebound from the upper boundary of the bearish channel. Cancellation of the option to drop the exchange rate and the value of Bitcoin will be a strong growth in the value of the asset and a breakdown of the area of 9155. This will indicate a breakdown of the resistance area and the continuation of the rise of the Bitcoin rate with a potential target at 10150. With the breakdown of the support area and closing of cryptocurrency quotes below the level of 8405, we should expect confirmation of a decrease digital asset rate.
Bitcoin Forecast and Analysis BTC/USD May 26, 2020 suggests an attempt to test the resistance level near the area of 8985. And then, the cryptocurrency will continue to fall with a potential target of 8125. An additional signal in favor of the Bitcoin exchange rate will be the resistance line test on the relative strength index (RSI). Cancellation of the option of falling cryptocurrency will be a strong growth and the breakdown of the area of 9155. This will indicate a continuation of the rise with a potential target above the area of 10150.
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