BTC/USD are trading at 9411 and continue to move as part of the growth. Bitcoin cryptocurrency capitalization at the time of the publication of the forecast is $169 751 003 117. Moving averages indicate the presence of a short-term downward trend for Bitcoin, prices rose above the level of signal lines, which indicates pressure from buyers. As part of the cryptocurrency rate forecast for October 29, 2019, we should expect an attempt to correct the asset and test the support level near the area of 8795. Where again we should expect a rebound and an attempt to continue the growth of the Bitcoin rate with the target above the area of 11905.
Bitcoin Forecast and Analysis BTC/USD October 29, 2019
In favor of the growth of 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 upper boundary of the downward channel. Cancellation of the Bitcoin exchange rate growth option will be a fall and a breakdown of the 8005 area. This will indicate a breakdown of the support area and a continued decline in the Bitcoin exchange rate with a potential target at 7105. With the breakdown of the resistance area and the cryptocurrency quotes closing above 10455, we should expect confirmation of a rise in the digital asset rate.
Bitcoin Forecast and Analysis BTC/USD October 29, 2019 suggests an attempt to test the support level near the area of 8795. And then, the cryptocurrency will continue to grow with a potential target at 11905. 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 area of 8005. This will indicate a continued decline with a potential target below the area of 7105.
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