BTC/USD are trading at 8378 and continue to move as part of the growth and the «Triangle» model. Bitcoin cryptocurrency capitalization at the time of the publication of the forecast is $151 306 616 728. Moving averages indicate the presence of a short-term downward trend in Bitcoin. As part of the cryptocurrency rate forecast for tomorrow, October 10, 2019, we should expect an attempt to reduce asset quotes and test the support level near the area of 8055. 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 9315.
Bitcoin Forecast and Analysis BTC/USD October 10, 2019
In favor of the rise in BTC/USD quotes, a test of the support line on the relative strength index (RSI) will come out. The second signal will be a rebound from the lower boundary of the «Triangle» model. Cancellation of the Bitcoin exchange rate growth option will be a fall and a breakdown of the 7685 area. This will indicate a breakdown of the support area and a continued decline in the Bitcoin exchange rate with a potential target at 6255. With the breakdown of the resistance area and closing of cryptocurrency quotes above 8745, we should expect confirmation of a rise in the digital asset rate.
Bitcoin Forecast and Analysis BTC/USD October 10, 2019 suggests an attempt to test the support level near the area of 8055. And then, the cryptocurrency will continue to grow with a potential target at 9315. An additional signal in favor of the Bitcoin exchange rate 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 7685 area. This will indicate a continued decline with a potential target below 6255.
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