BTC/USD are trading at 8432 and continue to move as part of the decline and the downward channel. Bitcoin cryptocurrency capitalization at the time of the publication of the forecast is $154 146 893 884. Moving averages indicate the presence of a short-term bearish trend for Bitcoin. As part of the cryptocurrency rate forecast for tomorrow, November 19, 2019, one should expect an attempt to grow a digital asset and test the resistance level near the area of 8525. Where again we should expect a rebound and an attempt to continue the fall of the Bitcoin rate with a target below the area of 7925.
Bitcoin Forecast and Analysis BTC/USD November 19, 2019
An additional signal in favor of falling BTC/USD quotes will be a test of a downward trend line on the relative strength index (RSI). The second signal will be a rebound from the upper boundary of the bearish channel. Cancellation of the Bitcoin depreciation option will be a strong growth and a breakdown of the 8705 area. This will indicate a breakdown of the upper border of the channel and continued growth of the Bitcoin rate with a potential target at 9605. With the breakdown of the support area and closing of cryptocurrency quotes below 8105, we should expect confirmation of a digital asset depreciation.
Bitcoin Forecast and Analysis BTC/USD November 19, 2019 suggests an attempt to test the resistance level near the area of 8525. And then, the cryptocurrency will continue to fall with a potential target at 7925. An additional signal in favor of the Bitcoin exchange rate will be the resistance line test on the relative strength index (RSI). Cancellation of the option of falling cryptocurrency will be a strong growth and a breakdown of the area of 8705. This will indicate a continuation of the rise with a potential target above the area of 9605.
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