BTC/USD are trading at 7089 and continue to move as part of the correction and the formation of the «Head and Shoulders» reversal pattern. Bitcoin cryptocurrency capitalization at the time of the publication of the forecast is $131 648 757 755. Moving averages indicate the presence of a short-term bearish trend for Bitcoin. As part of the cryptocurrency rate forecast for tomorrow, November 28, 2019, we should expect an attempt to drop the value of the digital asset and test the support level near the area of 6885. 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 8115.
Bitcoin Forecast and Analysis BTC/USD November 28, 2019
An additional signal in favor of the growth of BTC/USD quotes will be a test of the broken trend line on the relative strength index (RSI). The second signal will be the completion of the formation of the reversal model. Cancellation of the Bitcoin exchange rate growth option will be a fall and a breakdown of the 6355 area. This will indicate a breakdown of the lower boundary of the channel and a continued fall of the Bitcoin exchange rate with a potential target at 5450. With the breakdown of the resistance area and closing of cryptocurrency quotes above 7905, we should expect confirmation of a growth in the digital asset rate.
Bitcoin Forecast and Analysis BTC/USD November 28, 2019 suggests an attempt to test the support level near the area of 6885. And then, the cryptocurrency will continue to grow with a potential target of 8115. 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 6355 area. This will indicate a continued fall with a potential target below the 5450 area.
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