The BTC/USD quotes are trading at 40812 and continue to move within the fall and have left the bullish channel. Moving averages indicate a short-term bullish trend for Bitcoin. Prices are again testing the area between the signal lines, which indicates pressure from buyers of Digital Gold and a potential continuation of the fall in the value of the asset from current levels. As part of the cryptocurrency rate forecast for tomorrow, December 12, 2023, we should expect an attempt to develop growth in the value of the digital asset and a test of the resistance level near the 40965 area. From where we should again expect a downward rebound and an attempt to continue the fall of the Bitcoin rate with a target below the 35205 area.
Bitcoin Forecast for December 12, 2023
An additional signal in favor of a decrease in BTC/USD quotes will be a test of the resistance line on the relative strength index (RSI). The second signal in favor of this option will be a rebound from the lower border of the bullish channel. Cancellation of the option of a fall in the coin exchange rate and the value of Bitcoin will be a strong increase in the value of the asset and a breakdown of the area of 43565. This will indicate a breakdown of the resistance area and continued growth of the Bitcoin rate with a potential target at the level of 46805. Confirmation of the fall in the price of the asset will be a breakdown of the support area with the price consolidating below the level of 39405 , which will indicate a breakdown of the lower boundary of the bullish channel.
Bitcoin Forecast for December 12, 2023 assumes an attempt to test the resistance level near the area of 40965. And then, a continuation of the fall of the cryptocurrency with a potential target at the level of 35205. An additional signal in favor of a decrease in the Bitcoin rate will be a test of the resistance line on the relative strength index (RSI). Cancellation of the digital currency fall option will be a breakdown of the 43565 area. This will indicate continued growth of the coin with a potential target above the 46805 area.
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