BTC/USD are trading at 43170 and continue to move as part of a decline and a downward channel. The capitalization of the Bitcoin cryptocurrency at the time of the publication of the forecast is $811,338,531,559. Moving averages indicate a short-term bearish 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 29, 2021, we should expect an attempt to develop a rise in the value of a digital asset and a test of the resistance level near the 45905 area. Where again should we expect a rebound and an attempt to fall in the Bitcoin rate with a target below the 29505 area.
Bitcoin Forecast and Analysis BTC/USD September 29, 2021
An additional signal in favor of a fall in 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 upper border of the descending channel. Cancellation of the option to drop the Bitcoin rate and value will be a strong growth in the value of the asset and a breakdown of the area of 48055. This will indicate a breakdown of the resistance area and a continuation of the rise in the Bitcoin rate with a potential target at 53005. Confirmation of the fall in the price of the asset will be a breakdown of the support area with the price fixing below 38205.
Bitcoin Forecast and Analysis BTC/USD September 29, 2021 suggests an attempt to test the resistance level near the 45905 area. And further, the cryptocurrency will continue to fall with a potential target at 29505. An additional signal in favor of the Bitcoin rate decline will be a test of the resistance line on the relative strength index (RSI). Cancellation of the cryptocurrency fall option will be a strong growth and a breakdown of the 48055 area. This will indicate a continued rise with a potential target above the 53005 area.
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