Bitcoin BTC/USD are trading at 7928 and continue to move within the downward correction and the upward channel. Cryptocurrency capitalization at the time of the publication of the forecast is $141 739 598 240. Moving averages indicate a flat trend. As part of the cryptocurrency exchange rate forecast for June 5, 2019, we should expect an attempt to decline and a test of the support level near the area of 7755. Where again we should expect a rebound and an attempt to continue the growth of the Bitcoin rate with a target above the area of 9350.
Bitcoin Forecast and Analysis BTC/USD June 5, 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 7405 area. This will indicate a breakdown of the lower boundary of the channel and a further decline in the Bitcoin rate with a potential target at 7050. With the breakdown of the resistance area and the closure of cryptocurrency quotes above the level of 8855, we should expect confirmation of the growth of the digital asset rate.
Bitcoin Forecast and Analysis BTC/USD June 5, 2019 implies an attempt to test the support level near 7755. And further, cryptocurrency will continue to grow with a potential target at 9350. 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 7405. This will indicate a continued decline with a potential target below 7050.
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