BTC/USD are trading at 9168 and continue to move as part of the growth and the beginning of the development of the «Wedge» model. Bitcoin cryptocurrency capitalization at the time of the publication of the forecast is $ 168 700 139 659. Moving averages indicate the presence of a short-term bearish trend for Bitcoin. Prices have pierced the area between the lines up, which indicates pressure from the buyers of Digital Gold. As part of the cryptocurrency rate forecast for tomorrow, May 28, 2020, we should expect an attempt to develop a correction in the value of a digital asset and a test of the support level near the area of 8905. Where again we should expect a rebound and an attempt to continue to increase the Bitcoin rate with a target above the area of 9925.
Bitcoin Forecast and Analysis BTC/USD May 28, 2020
An additional signal in favor of the growth of BTC/USD quotes will be a test of the upward trend line on the relative strength index (RSI). The second signal will be a rebound from the upper boundary of the «Wedge» model. Cancellation of the option to increase the exchange rate and value of Bitcoin will be a fall in the value of the asset and a breakdown of the area of 8505. This will indicate a breakdown of the support area and a continuation of the fall of the Bitcoin rate with a potential target at 7405. With the breakdown of the resistance area and closing of cryptocurrency quotes above 9305, we should expect confirmation of a rise in the rate digital asset.
Bitcoin Forecast and Analysis BTC/USD May 28, 2020 implies an attempt to test the support level near the area of 8905. And then, the cryptocurrency will continue to grow with a potential target of 9925. An additional signal in favor of the Bitcoin exchange rate will be the support line test on the relative strength index (RSI). Cancellation of the cryptocurrency growth option will be a fall and a breakdown of the 8505 area. This will indicate a continued fall with a potential target below the 7405 area.
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