BTC/USD quotes are trading at 57130 and continue to move within the development of growth and a bullish channel. Moving averages indicate the presence of a short-term bearish trend for Bitcoin. Prices have broken through the area between the signal lines downwards, which indicates pressure from 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 11, 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 56465 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 61105 area.
Bitcoin Forecast and Analysis for September 11, 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 to increase the coin rate and the Bitcoin price will be cancelled if the asset price falls and the 55205 area is broken. This will indicate a breakout of the support area and a continued fall in the Bitcoin rate with a potential target at 51605. The asset price growth will be confirmed by a breakout of the resistance area with the price fixing above 58405.
Bitcoin Forecast and Analysis for September 11, 2024 suggests an attempt to test the support level near the 56465 area. And then, the cryptocurrency will continue to grow with a potential target at 61105. An additional signal in favor of increasing the Bitcoin rate will be a test of the support line on the relative strength indicator. The option to increase the digital currency will be cancelled if the 55205 area is broken. This will indicate a continued fall in the coin with a potential target below 51605.
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