BTC/USD are trading at 10415 and continue to move as part of the correction and the formation of the inverted «Head and Shoulders» model. Bitcoin’s cryptocurrency capitalization at the time of the publication of the forecast is $191 241 070 024. Moving averages indicate a bearish trend in Bitcoin. As part of the cryptocurrency forecast for September 4, 2019, we should expect an attempt to continue to fall and test the support level near the area of 9705. Where again we should expect a rebound and an attempt to continue the growth of the Bitcoin rate with a target above the area of 12055.
Bitcoin Forecast and Analysis BTC/USD September 4, 2019
In favor of the growth of BTC/USD quotes, a test of the broken trend line on the relative strength index (RSI) will come out. The second signal will be the formation of an inverted model «Head and Shoulders». Cancellation of the Bitcoin exchange rate growth option will be a fall and a breakdown of the 9050 area. This will indicate a breakdown of the support area and a continued decline in the Bitcoin exchange rate with a potential target at 8100. With the breakdown of the resistance area and closing of cryptocurrency quotes below 11055, we should expect confirmation of a growth in the digital asset rate.
Bitcoin Forecast and Analysis BTC/USD September 4, 2019 suggests an attempt to test the support level near the area of 9705. And then the cryptocurrency will continue to grow with a potential target at 12055. An additional signal in favor of the Bitcoin exchange rate will be the support line test on the relative strength index (RSI). Cancellation of the cryptocurrency growth option will be a fall and a breakdown of the 9050 area. This will indicate a continued decline with a potential target below 8100.
Looking for the Best Forex Broker? We trade at RoboForex. You can receive a rebates from each trade when registering using our partner link
