BTC/USD are trading at 8201 and continue to move as part of the correction and the downward channel. Bitcoin cryptocurrency capitalization at the time of the publication of the forecast is $148 243 194 554. Moving averages indicate the presence of a short-term downward trend in Bitcoin. As part of the cryptocurrency rate forecast for tomorrow, October 23, 2019, we should expect an attempt to increase the asset quotes and test the resistance level near the area of 8455. Where again we should expect a rebound and an attempt to continue the fall of the Bitcoin rate with a target below 6825.
Bitcoin Forecast and Analysis BTC/USD October 23, 2019
In favor of the fall in BTC/USD quotes, a test of the resistance area on the relative strength index (RSI) will come out. 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 9005. This will indicate a breakdown of the resistance area and continued growth of the Bitcoin exchange rate with a potential target at 9725. With the breakdown of the support area and closing of cryptocurrency quotes below 7510, we should expect confirmation of a decline in the rate of the digital asset.
Bitcoin Forecast and Analysis BTC/USD October 23, 2019 involves an attempt to test the resistance level near the area of 8455. And then, the cryptocurrency will continue to fall with a potential target at 6825. 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 9005. This will indicate a continuation of the rise with a potential target above the area of 9725.
Looking for the Best Forex Broker? We trade at RoboForex. You can receive a rebates from each trade when registering using our partner link
