BTC/USD are trading at 31,659 and continue to move as part of growth and have left the limits of the downward channel. The capitalization of the Bitcoin cryptocurrency at the time of the publication of the forecast is $594,081,623,752. Moving averages indicate the presence of a short-term downward trend for Bitcoin. Prices are again testing the area between the signal lines, which indicates pressure from the sellers of “Digital Gold” and a potential continuation of the fall in the value of the asset already from current levels. As part of the cryptocurrency rate forecast for tomorrow, June 3, 2022, we should expect an attempt to develop a fall in the value of a digital asset and a test of the support level near the area of 31045. From where we should again expect a rebound upwards and an attempt to continue the growth of the Bitcoin rate with a target above the area of 37805.
Bitcoin Forecast BTC/USD June 3, 2022
An additional signal in favor of the rise in BTC/USD quotes will be a test of the trend line on the relative strength index, which was broken up by buyers. The second signal in favor of this option will be a rebound from the upper border of the channel. Cancellation of the growth option for the exchange rate and the cost of Bitcoin will be a fall in the value of the asset and a breakdown of the 27045 area. This will indicate a breakdown of the support area and a continued fall in the Bitcoin exchange rate with a potential target at the level of 23005. A confirmation of the growth in the asset price will be a breakdown of the resistance area with the price fixing above the level of 32405.
Bitcoin Forecast BTC/USD June 3, 2022 suggests an attempt to test the support level near the area of 31045. And further, the continued growth of the cryptocurrency with a potential target at the level of 37805. An additional signal in favor of the rise in the Bitcoin rate will be a test of the support line on the relative strength index (RSI). Cancellation of the cryptocurrency growth option will be the fall of the asset and the breakdown of the area of 27045. This will indicate a continuation of the fall with a potential target below the area of 23005.
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