BTC/USD are trading at 8171 and continue to move as part of the correction and the «Triangle» model. Bitcoin cryptocurrency capitalization at the time of the publication of the forecast is $148 202 002 850. Moving averages indicate the presence of a short-term bearish trend in Bitcoin. As part of the cryptocurrency rate forecast for tomorrow, October 9, 2019, we should expect an attempt to raise the asset quotes and test the resistance level near the area of 8385. From 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 7245.
Bitcoin Forecast and Analysis BTC/USD October 9, 2019
In favor of falling BTC/USD quotes, a test of the resistance line on the relative strength index (RSI) will come out. The second signal will be a rebound from the upper boundary of the «Triangle» model. Cancellation of the Bitcoin depreciation option will be a strong growth and a breakdown of the 9045 area. This will indicate a breakdown of the resistance area and continued growth of the Bitcoin exchange rate with a potential target at 9775. With the breakdown of the support area and closing of cryptocurrency quotes below the level of 7525, we should expect confirmation of a decrease in the rate of the digital asset.
Bitcoin Forecast and Analysis BTC/USD October 9, 2019 suggests an attempt to test the resistance level near the area of 8385. And then, the cryptocurrency will continue to fall with a potential target at 7245. 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 to reduce the cryptocurrency will be a strong growth and a breakdown of the 9045 area. This will indicate a continued rise with a potential target above 9775.
Looking for the Best Forex Broker? We trade at RoboForex. You can receive a rebates from each trade when registering using our partner link
