BTC/USD are trading at 7452 and continue to move as part of the fall and the downward channel. Bitcoin cryptocurrency capitalization at the time of the publication of the forecast is $135 091 767 133. Moving averages indicate the presence of a short-term downward trend in Bitcoin. As part of the cryptocurrency rate forecast for tomorrow, October 25, 2019, we should expect an attempt to correct the asset and test the resistance level near the area of 7725. 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 6765.
Bitcoin Forecast and Analysis BTC/USD October 25, 2019
In favor of the fall in BTC/USD quotes, a test of the broken trend line on the relative strength index (RSI) will come out. The second signal will be a rebound from the lower boundary of the ascending channel. Cancellation of the Bitcoin depreciation option will be a strong growth and a breakdown of the 8355 area. This will indicate a breakdown of the resistance area and continued growth of the Bitcoin exchange rate with a potential target at 9025. With the breakdown of the support area and closing of cryptocurrency quotes below 6985, we should expect confirmation of a digital asset depreciation.
Bitcoin Forecast and Analysis BTC/USD October 25, 2019 suggests an attempt to test the resistance level near the area of 7725. And then, the cryptocurrency will continue to fall with a potential target at 6765. 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 8355. This will indicate a continuation of the rise with a potential target above the area of 9025.
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