BTC/USD are trading at 10400 and continue to move as part of the correction and the formation of the inverted «Head and Shoulders» model. Bitcoin cryptocurrency capitalization at the time of the publication of the forecast is $187 586 517 470. Moving averages indicate a bearish trend in Bitcoin. As part of the cryptocurrency rate forecast for tomorrow, September 5, 2019, we should expect an attempt to continue to fall and test the support level near the area of 9645. 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 5, 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 area of 9005. This will indicate a breakdown of the support area and a continued decline in the Bitcoin rate with a potential target at 8050. With the breakdown of the resistance area and closing of cryptocurrency quotes below 11165, we should expect confirmation of a growth in the digital asset rate.
Bitcoin Forecast and Analysis BTC/USD September 5, 2019 suggests an attempt to test the support level near the area of 9645. And then the cryptocurrency will continue to grow with a potential target at 12055. An additional signal in favor of the Bitcoin appreciation 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 area of 9005. This will indicate a continued decline with a potential target below 8050.
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