BTC/USD are trading at 10076 and continue to move as part of the correction and the formation of the bullish «Wolfe Wave» pattern. Bitcoin cryptocurrency capitalization at the time of the publication of the forecast is $180 414 607 547. Moving averages indicate the presence of a short-term downward trend in Bitcoin. As part of the cryptocurrency forecast for September 12, 2019, we should expect an attempt to decrease and test the support level near the area of 9775. 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 11005.
Bitcoin Forecast and Analysis BTC/USD September 12, 2019
In favor of the growth of BTC/USD quotes, a test of the support area on the relative strength index (RSI) will come out. The second signal will be a rebound from the lower boundary of the ascending channel. Cancellation of the Bitcoin exchange rate growth option will be a fall and a breakdown of the 9435 area. This will indicate a breakdown of the support area and a continued decline in the Bitcoin rate with a potential target at 8850. With the breakdown of the resistance area and closing of cryptocurrency quotes below the level of 10450, we should expect confirmation of a growth in the digital asset rate. It will also indicate the completion of the formation of the bull model «Wolfe Wave».
Bitcoin Forecast and Analysis BTC/USD September 12, 2019 suggests an attempt to test the support level near the area of 9775. And then the cryptocurrency will continue to grow with a potential target at 11005. 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 9435 area. This will indicate a continued decline with a potential target below 8850.
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