Bitcoin BTC/USD are trading at 5891 and continue to move as part of the growth and ascending channel. Cryptocurrency capitalization at the time of the publication of the forecast is $105 039 714 445. Moving averages indicate the presence of an upward trend in Bitcoin. As part of the cryptocurrency exchange rate forecast, we should expect an attempt to fall and a test of the support level near the 5755 area. Where again we should expect a rebound and an attempt to continue the growth of the Bitcoin rate with a target above the 6250 area.
Bitcoin Forecast and Analysis BTC/USD May 9, 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 lower boundary of the rising channel. Cancellation of the Bitcoin exchange rate growth option will be a fall and a breakdown of the 5530 area. This will indicate a breakdown of the support area and a continued depreciation of Bitcoin with a potential target at 5150. With the breakdown of the resistance area and the closure of cryptocurrency quotes above the level of 5975, we should expect confirmation of growth of the digital asset rate.
Bitcoin Forecast and Analysis BTC/USD May 9, 2019 suggests an attempt to test the support level near 5755. And further, cryptocurrency will continue to grow with a potential target at 6250. An additional signal in favor of raising the Bitcoin rate will be a test of the rising trend line on the relative strength index (RSI). Cancellation of the cryptocurrency growth option will be a fall and a breakdown of the 5530 region. This will indicate a continued decline with a potential target below 5150.
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