BTC/USD are trading at 11728 and continue to move as part of the correction of the ascending channel. Bitcoin cryptocurrency capitalization at the time of the publication of the forecast is $216 909 523 903. Moving averages indicate a short-term bullish trend for Bitcoin. Prices are bouncing off the area between the lines, which indicates pressure from Digital Gold buyers and potential continued growth in the asset’s value. As part of the cryptocurrency rate forecast for tomorrow, September 1, 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 11065 area, which will act as the lower boundary of the “Triangle” model. 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 12985.
Bitcoin Forecast and Analysis BTC/USD September 1, 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 from the lower border of the “Triangle” pattern. 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 area of 10845. This will indicate a breakdown of the support area and the continuation of the fall in the Bitcoin rate with a potential target at 9655. With the breakdown of the resistance area and closing of cryptocurrency quotes above the level of 12145, we should expect confirmation of the growth of the rate the digital asset and the beginning of the development of the “Triangle” model.
Bitcoin Forecast and Analysis BTC/USD September 1, 2020 suggests an attempt to test the support level near the 11065 area. And further, the cryptocurrency will continue to grow with a potential target at 12985. 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 growth option for cryptocurrency will be a fall and a breakdown of the area of 10845. This will indicate a continued decline with a potential target below the area of 9655.
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