BTC/USD are trading at 9450 and continue to move as part of the growth and upward channel. Bitcoin cryptocurrency capitalization at the time of the publication of the forecast is $173 743 117 728. Moving averages indicate the presence of a short-term bullish 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 29, 2020, we should expect an attempt to develop a correction in the value of the digital asset and a test of the support level near the area of 9195. Where again we should expect a rebound and an attempt to continue to increase the Bitcoin rate with the target above the area of 9905.
Bitcoin Forecast and Analysis BTC/USD May 29, 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 lower boundary of the ascending channel. Cancellation of the option to increase the rate and value of Bitcoin will be a fall in the value of the asset and a breakdown of the area of 8905. This will indicate a breakdown of the support area and a continuation of the fall of the Bitcoin rate with a potential target at 8105. With the breakdown of the resistance area and the closure of cryptocurrency quotes above 9615, we should expect confirmation of a rise in the rate digital asset.
Bitcoin Forecast and Analysis BTC/USD May 29, 2020 suggests an attempt to test the support level near the area of 9195. And then, the cryptocurrency will continue to grow with a potential target at 9905. 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 area of 8905. This will indicate a continuation of the fall with a potential target below the area of 8105.
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