BTC/USD quotes are trading at 68631 and continue to move within the growth and bullish channel. Moving averages indicate a short-term bullish trend for Bitcoin. Prices have broken through the area between the signal lines upward, which indicates pressure from buyers of Digital Gold and a potential continuation of growth in the value of the asset from current levels. As part of the cryptocurrency rate forecast for tomorrow, May 28, 2024, 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 66405 area. From where we should again expect a rebound upward and an attempt to continue the growth of the Bitcoin rate with a target above the 77805 area.
Bitcoin Forecast for May 28, 2024
An additional signal in favor of growth in BTC/USD quotes will be a test of the support 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 to raise the coin rate and the value of Bitcoin will be a fall in the value of the asset and a breakdown of the area of 62765. This will indicate a breakdown of the support area and a continuation of the fall in the Bitcoin rate with a potential target at the level of 58505. Confirmation of an increase in the price of the asset will be a breakdown of the resistance area with the price consolidating above the level of 73365.
Bitcoin Forecast for May 28, 2024 assumes an attempt to test the support level near the area of 66405. And then, continued growth of the cryptocurrency with a potential target at the level of 77805. An additional signal in favor of an increase in the Bitcoin rate will be a test of the support line on the relative strength index. Cancellation of the growth option for the digital currency will be a breakdown of the 62765 area. This will indicate a continued fall of the coin with a potential target below the 58505 area.
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