BTC/USD are trading at 8126 and continue to move as part of the decline and the bearish channel. Bitcoin cryptocurrency capitalization at the time of the publication of the forecast is $147 785 733 728. Moving averages indicate the presence of a short-term bearish trend for Bitcoin. As part of the cryptocurrency rate forecast for tomorrow, November 20, 2019, we should expect an attempt to grow a digital asset and test the resistance level near the area of 8305. 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 7475.
Bitcoin Forecast and Analysis BTC/USD November 20, 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 downward channel. Cancellation of the Bitcoin depreciation option will be a strong growth and a breakdown of the area of 8505. This will indicate a breakdown of the upper border of the channel and continued growth of the Bitcoin rate with a potential target at 9425. With the breakdown of the support area and closing of cryptocurrency quotes below 7905, we should expect confirmation of a fall in the rate of the digital asset.
Bitcoin Forecast and Analysis BTC/USD November 20, 2019 suggests an attempt to test the resistance level near the area of 8305. And then, the cryptocurrency will continue to fall with a potential target at the level of 7475. 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 the breakdown of the area of 8505. This will indicate a continuation of the rise with a potential target above the area of 9425.
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