Bitcoin Forecast and Analysis BTC/USD September 23, 2020


BTC/USD are trading at 10448 and continue to move as part of the correction. Buyers still could not break through the important resistance area of ​​11000, with the breakdown of this level, a good rise in the asset to the local maximum is expected. At the same time, the quotes were unable to break through the support area of ​​10,000, which would indicate a renewed strong bearish momentum. Bitcoin cryptocurrency capitalization at the time of the publication of the forecast is $193 709 951 479. Moving averages indicate a short-term bearish trend for Bitcoin. Prices have broken through the area between the lines up, which indicates pressure from the sellers of ”Digital Gold” and a potential continuation of the fall in the value of the asset. As part of the cryptocurrency rate forecast for tomorrow, September 23, 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 10255 area. Where again can we expect a rebound and an attempt to continue the growth of the Bitcoin rate with a target above the 12005 area.

Bitcoin Forecast and Analysis BTC/USD September 23, 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 of the upper border of the descending channel. 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 9505 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 8705. With the breakdown of the resistance area and closing of cryptocurrency quotes above the level of 11655, we should expect confirmation of the rate growth digital asset.

Bitcoin Forecast and Analysis BTC/USD September 23, 2020

Bitcoin Forecast and Analysis BTC/USD September 23, 2020 suggests an attempt to test the support level near the 10255 area. And further, the cryptocurrency will continue to grow with a potential target at 12005. 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 9505 area. This will indicate a continued decline with a potential target below the 8705 area.


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