BTC/USD are trading at 8751 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 $161 743 944 137. 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 27, 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 8855. 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 7805.
Bitcoin Forecast and Analysis BTC/USD May 27, 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 downward channel. Cancellation of the option to drop the Bitcoin exchange rate and value will be a strong increase in the asset value and the breakdown of the area of 9295. This will indicate a breakdown of the resistance area and the continuation of the rise in the Bitcoin rate with a potential target at 10165. With the breakdown of the support area and closing of cryptocurrency quotes below 8405, we should expect confirmation of a decrease digital asset rate.
Bitcoin Forecast and Analysis BTC/USD May 27, 2020 suggests an attempt to test the resistance level near the area of 8855. And then, the cryptocurrency will continue to fall with a potential target at 7805. 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 9295. This will indicate a continuation of the rise with a potential target above the area of 10165.
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