BTC/USD are trading at 42197 and continue to move as part of the fall and the formation of the bullish ”Wolfe Wave” pattern. The capitalization of the Bitcoin cryptocurrency at the time of the publication of the forecast is $796,372,965,419. Moving averages indicate a short-term bullish trend for Bitcoin. Prices broke through the area between the signal lines downward, which indicates pressure from the sellers of “Digital Gold” and a potential continuation of the fall in the value of the asset from the current levels. As part of the cryptocurrency rate forecast for tomorrow, September 23, 2021, we should expect an attempt to develop a decrease in the value of a digital asset and a test of the support level near the 38805 area. Where again should we expect a rebound and an attempt to raise the Bitcoin rate with a target above the 49855 area.
Bitcoin Forecast and Analysis BTC/USD September 23, 2021
An additional signal in favor of the growth of BTC/USD quotes will be a test of the downward trend line on the relative strength index (RSI). The second signal in favor of this option will be a rebound from the lower boundary of the ”Wolfe Wave” model. 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 33055. This will indicate a breakdown of the support area and the continuation of the fall in the Bitcoin rate with a potential target at 27055. Confirmation of the rise in the price of the asset will be a breakdown of the resistance area with the price fixing above the level of 45605.
Bitcoin Forecast and Analysis BTC/USD September 23, 2021 suggests an attempt to test the support level near the 38805 area. And further, the cryptocurrency will continue to fall with a potential target at 49855. 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 33055 area. This will indicate a continued fall with a potential target below the 27055 area.
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