BTC/USD are trading at 13421 and continue to move within the framework of a strong growth and an upward channel. The capitalization of the Bitcoin cryptocurrency at the time of the publication of the forecast is $ 248,106,230,755. Moving averages indicate a short-term bullish trend for Bitcoin. Prices went up from the area between the lines, which indicates pressure from buyers of Digital Gold and a potential continuation of the asset’s value growth from the current levels. As part of the cryptocurrency rate forecast for tomorrow, October 28, 2020, we should expect an attempt to develop a downward correction in the value of a digital asset and a test of the support level near the area of 12565. Where can we expect a rebound again and an attempt to continue the growth of the Bitcoin rate with a target above the area of 14855.
Bitcoin Forecast and Analysis BTC/USD October 28, 2020
An additional signal in favor of the growth of BTC/USD quotes will be a test of the trend line on the relative strength index (RSI). The second signal will be a rebound of the lower border of the ascending channel. Cancellation of the option to raise the rate and value of Bitcoin will be a fall in the value of the asset and a breakdown of the 11905 area. This will indicate a breakdown of the support area and the continuation of the fall in the Bitcoin rate with a potential target at 11205. With the breakdown of the resistance area and the closing of cryptocurrency quotes above the level of 13805.
Bitcoin Forecast and Analysis BTC/USD October 28, 2020 suggests an attempt to test the support level near the area of 12565. And further, the cryptocurrency will continue to grow with a potential target at 14855. An additional signal in favor of the Bitcoin rate rise will be a test of the support line on the relative strength index (RSI). Cancellation of the cryptocurrency growth option will be a fall and a breakdown of the 11905 area. This will indicate a continued decline with a potential target below the 11205 area.
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