BTC/USD are trading at 67706 and continue to move as part of the growth and the bullish channel. Bitcoin cryptocurrency capitalization at the time of the publication of the forecast is $1,281,861,302,847. Moving averages indicate a short-term sideways trend in Bitcoin. Prices have broken the area between the signal lines upwards, which indicates pressure from buyers of “Digital Gold” and a potential continuation of the growth of the asset value from the current levels. As part of the cryptocurrency rate forecast for tomorrow, November 10, 2021, we should expect an attempt to develop a correction in the value of a digital asset and a test of the support level near the 66505 area. Where can we expect an upward rebound and an attempt to continue the growth of the Bitcoin rate with a target above the 72005 area.
Bitcoin Forecast and Analysis November 10, 2021
An additional signal in favor of raising the BTC/USD quotes will be a test of the bullish trend 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 rate and value of Bitcoin will be a fall in the value of the asset and a breakdown of the area of 64255. This will indicate a breakdown of the support area and the continuation of the fall in the Bitcoin rate with a potential target at 60055. Confirmation of the rise in the price of the asset will be a breakdown of the resistance area with the price fixing above 69505.
Bitcoin Forecast and Analysis November 10, 2021 suggests an attempt to test the support level near the 66505 area. And further, the cryptocurrency will continue to grow with a potential target at 72005. An additional signal in favor of the Bitcoin rate growth will be a test of the support line on the relative strength index (RSI). Cancellation of the option to raise the cryptocurrency will be a fall and a breakdown of the 64255 area. This will indicate a continued decline with a potential target below the 60055 area.