Bitcoin BTC/USD are trading at 8743 and continue to move as part of strong growth and the beginning of the development of the «Triangle» model. Cryptocurrency capitalization at the time of the publication of the forecast is $154 649 205 883. Moving averages indicate the presence of a bullish trend in Bitcoin. As part of the cryptocurrency exchange rate forecast for May 28, 2019, we expect an attempt to develop a correction and a test of the support level near the region 8375. Where should we again expect a rebound and an attempt to continue the growth of the Bitcoin rate with a target above 9765.
Bitcoin Forecast and Analysis BTC/USD May 28, 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 upper limit of the model «Triangle». Cancellation of the Bitcoin rate growth option will be a fall and a breakdown of the 7850 area. This will indicate a breakdown of the lower border of the model and a continued decline of the Bitcoin rate with a potential target at 6750. With the breakdown of the resistance area and the closure of cryptocurrency quotes above the 9050, you should expect confirmation of growth of the digital asset rate.
Bitcoin Forecast and Analysis BTC/USD May 28, 2019 suggests an attempt to test the support level near 8375. And then the cryptocurrency will continue to grow with a potential target of 9765. 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 cryptocurrency growth option will be a fall and a breakdown of the 7850 area. This will indicate a continued decline with a potential target below 6750.
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