BTC/USD quotes are trading at 63086 and continue to move within the development of growth and a bearish channel. Moving averages indicate the presence of a short-term downward 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, September 20, 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 59205 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 67465 area.
Bitcoin Forecast and Analysis for September 20, 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 rise in the coin rate and the value of Bitcoin will be cancelled if the asset value falls and the area of 57965 is broken. This will indicate a breakout of the support area and a continuation of the fall in the Bitcoin rate with a potential target at 54505. The growth of the asset price will be confirmed by a breakout of the resistance area with the price fixing above 62045, which will indicate a breakout of the upper border of the descending channel.
Bitcoin Forecast and Analysis for September 20, 2024 suggests an attempt to test the support level near the area of 59205. And then, the continuation of the growth of the cryptocurrency with a potential target at 67465. 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 breakout of the 57965 area will cancel the option of the digital currency rise. This will indicate a continuation of the coin’s fall with a potential target below the 54505 mark.
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