BTC/USD are traded at 47724 and continue to move as part of the growth and left the downward correction channel. The capitalization of the Bitcoin cryptocurrency at the time of the publication of the forecast is $933,033,304,172. Moving averages indicate a short-term sideways trend in Bitcoin. Prices have broken through the area between the signal lines upwards, which indicates pressure from buyers of “Digital Gold” and a potential continuation of the rise in the value of the asset from the current levels. As part of the cryptocurrency rate forecast for tomorrow, October 6, 2021, we should expect an attempt to develop a decrease in the value of a digital asset and a test of the support level near the 46405 area. Where again should we expect a rebound and an attempt to raise the Bitcoin rate with a target above the 59605 area.
Bitcoin Forecast and Analysis BTC/USD October 6, 2021
An additional signal in favor of the growth of BTC/USD quotes will be a test of the rising trend line on the relative strength index (RSI). The second signal in favor of this option will be a rebound from the upper border of the broken channel. Cancellation of the growth rate and value of Bitcoin will be a fall in the value of the asset and a breakdown of the 38455 area. This will indicate a breakdown of the support area and the continuation of the fall in the Bitcoin exchange rate with a potential target at 31405. Confirmation of the rise in the price of the asset will be a breakdown of the resistance area with the price fixing above the level of 51505.
Bitcoin Forecast and Analysis BTC/USD October 6, 2021 suggests an attempt to test the support level near the 46405 area. And further, the cryptocurrency will continue to grow with a potential target at 59605. 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 38605 area. This will indicate a continued fall with a potential target below the 32505 area.
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