Bitcoin BTC/USD traded at 8447 and continue to move within the growth and ascending channel. Cryptocurrency capitalization at the time of the publication of the forecast is $150 769 891 530. Moving averages indicate a bullish Bitcoin trend. As part of the cryptocurrency exchange rate forecast for tomorrow, June 4, 2019, we should expect an attempt to decline and a test of the support level near the 8235 region. Where again we should expect a rebound and an attempt to continue the growth of the Bitcoin rate with a target above the 9750 region.
Bitcoin Forecast and Analysis BTC/USD June 4, 2019
In favor of the growth of BTC/USD quotes, a test of the rising trend line on the relative strength index (RSI) will be made. The second signal will be a rebound from the lower boundary of the rising channel. Cancellation of the Bitcoin rate growth option will be a fall and a breakdown of the 7685 area. This will indicate a breakdown of the lower boundary of the channel and a continued decline in the Bitcoin rate with a potential target at 7150. With the breakdown of the resistance area and the closure of the cryptocurrency quotes above the 9225 rate, we should expect confirmation of the growth of the digital asset rate.
Bitcoin Forecast and Analysis BTC/USD June 4, 2019 implies an attempt to test the support level near 8235. And further cryptocurrency growth continues with a potential target of 9750. An additional signal in favor of raising the Bitcoin rate will be a test of the rising trend line on the relative strength index (RSI). Cancellation of the growth of cryptocurrency will be the fall and the breakdown of the area 7685. This will indicate a continuation of the decline with a potential target below 7150.
Looking for the Best Forex Broker? We trade at RoboForex. You can receive a rebates from each trade when registering using our partner link
