BTC/USD are trading at 10481 and continue to move as part of the correction and the formation of a reversal pattern. 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 10000, which would indicate a renewed strong bearish momentum. Bitcoin cryptocurrency capitalization at the time of the publication of the forecast is $193 614 973 211.
Moving averages indicate a short-term bearish trend for Bitcoin. Prices broke through the area between the lines downward, 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 24, 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 area of 10085. Where can we expect a rebound and an attempt to continue the growth of the Bitcoin rate with a target above the area of 12015.
Bitcoin Forecast and Analysis BTC/USD September 24, 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 9495 area. This will indicate a breakdown of the support area and the continuation of the fall in the Bitcoin rate with a potential target at 8705. With the breakdown of the resistance area and the 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 24, 2020 suggests an attempt to test the support level near the area of 10085. And further, the cryptocurrency will continue to grow with a potential target at 12015. 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 9495 area. This will indicate a continued decline with a potential target below the 8705 area.
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