BTC/USD are trading at 9845 and continue to move as part of the fall and the start of development of the «Triangle» model. Bitcoin cryptocurrency capitalization at the time of the publication of the forecast is $177 751 707 328. Moving averages indicate the presence of a short-term downward trend for Bitcoin. As part of the cryptocurrency rate forecast for September 20, 2019, we should expect an attempt to grow and test the resistance level near the area of 10035. 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 8950.
Bitcoin Forecast and Analysis BTC/USD September 20, 2019
In favor of the fall in BTC/USD quotes, a test of the resistance area on the relative strength index (RSI) will come out. The second signal will be a rebound from the lower boundary of the «Triangle» model. Cancellation of the Bitcoin depreciation option will be a strong growth and a breakdown of the 10450 area. This will indicate a breakdown of the resistance area and continued growth of the Bitcoin rate with a potential target at 11250. With the breakdown of the support area and closing of cryptocurrency quotes below the level of 9425, confirmation of a decrease in the rate of the digital asset is expected.
Bitcoin Forecast and Analysis BTC/USD September 20, 2019 suggests an attempt to test the resistance level near the area of 10035. And then the cryptocurrency will continue to fall with a potential target at 8950. 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 of falling cryptocurrency will be a strong growth and a breakdown of the area of 10450. This will indicate a continuation of the rise with a potential target above 11250.
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