BTC/USD are traded at 10176 and continue to move as part of a strong correction of the upward channel. Bitcoin cryptocurrency capitalization at the time of the publication of the forecast is $188 238 548 379. 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 8, 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 9775 area. Where again should we expect a rebound and an attempt to continue the growth of the Bitcoin rate with a target above the 11565 area.
Bitcoin Forecast and Analysis BTC/USD September 9, 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 from the lower border of the ascending 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 area of 9255. This will indicate a breakdown of the support area and the continuation of the fall in the Bitcoin rate with a potential target at 8605. With the breakdown of the resistance area and closing of cryptocurrency quotes above the level of 11055, we should expect confirmation of the growth of the rate digital asset.
Bitcoin Forecast and Analysis BTC/USD September 9, 2020 suggests an attempt to test the support level near the 9775 area. And further, the cryptocurrency will continue to grow with a potential target at 11565. 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 area of 9255. This will indicate a continued decline with a potential target below the area of 8605.
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