BTC/USD quotes are trading at 62434 and continue to move within the development of the correction and the bullish channel. Moving averages indicate the presence of a short-term bullish trend for Bitcoin. Prices have broken through the area between the signal lines upwards, which indicates pressure from buyers of “Digital Gold” and a potential continuation of the growth of the asset value from the current levels. As part of the cryptocurrency rate forecast for tomorrow, August 28, 2024, we should expect an attempt to develop a bearish correction in the value of the digital asset and a test of the support level near the 59065 area. From where we should again expect an upward rebound and an attempt to continue the growth of the Bitcoin rate with a target above the 72605 area.
Bitcoin Forecast and Analysis for August 28, 2024
An additional signal in favor of the growth of BTC/USD quotes will be a test of the support line on the relative strength indicator. The second signal in favor of this option will be a rebound from the lower border of the bullish channel. The option with the growth of the coin rate and the cost of Bitcoin will be cancelled by a fall in the asset value and a breakout of the 57805 area. This will indicate a breakout of the support area and a continuation of the fall of the Bitcoin rate with a potential target at 52805. The growth of the asset price will be confirmed by a breakout of the resistance area with the price fixing above 66455, which will indicate a breakout of the upper border of the descending channel.
Bitcoin Forecast and Analysis for August 28, 2024 suggests an attempt to test the support level near the 59065 area. And then, the continuation of the fall of the cryptocurrency with a potential target at 72605. An additional signal in favor of the rise in the Bitcoin rate will be a test of the support line on the relative strength indicator. The option of the digital currency growth will be cancelled by a breakout of the 57805 area. This will indicate a continuation of the coin’s fall with a potential target below 52805.
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