BTC/USD are trading at 8786 and continue to move as part of the decline. Bitcoin cryptocurrency capitalization at the time of the publication of the forecast is $158 695 208 857. Moving averages indicate the presence of a short-term upward trend in Bitcoin. Prices were able to break through the area of signal lines, which indicates pressure from sellers. As part of the cryptocurrency rate forecast for tomorrow, November 12, 2019, we should expect an attempt to drop a digital asset and test the support level near the area of 8565. Where again we should expect a rebound and an attempt to continue the growth of the Bitcoin rate with a target above the area of 10565.
Bitcoin Forecast and Analysis BTC/USD November 12, 2019
In favor of the growth of BTC/USD quotes, a test of the upward trend line on the relative strength index (RSI) will come out. The second signal will be a rebound from the support area. Cancellation of the Bitcoin exchange rate growth option will be a fall and a breakdown of the 8045 area. This will indicate a breakdown of the support area and a continued decline in the Bitcoin exchange rate with a potential target at 7255. With the breakdown of the resistance area and the cryptocurrency quotes closing above 9765, we should expect confirmation of a rise in the digital asset rate.
Bitcoin Forecast and Analysis BTC/USD November 12, 2019 suggests an attempt to test the support level near the area of 8565. And then, the cryptocurrency will continue to grow with a potential target at the level of 10565. An additional signal in favor of the Bitcoin appreciation 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 8045. This will indicate a continued decline with a potential target below the area of 7255.