Cryptocurrency Bitcoin is trading at the level of 19835 continues to move as part of the correction and the formation of the “Triangle” model. BTC/USD quotes are below the lower border of the Ichimoku Kinko Hyo indicator cloud. This suggests a short-term bearish trend for the digital asset. As part of the Bitcoin price forecast for September 8, 2022. The development of a correction in the value of the asset and a test of the lower border of the Ichimoku indicator cloud near the level of 20205 are expected. Where should we expect a rebound and an attempt to continue the fall of the Bitcoin cryptocurrency with a potential target at the level of 17465.
Bitcoin Forecast and Analysis September 8, 2022
An additional signal in favor of a decrease in the BTC/USD cryptocurrency will be a test of the resistance area on the coin price chart. The second signal will be a rebound from the upper border of the Triangle pattern. Earlier, a strong signal was received for the sale of the Bitcoin cryptocurrency. The signal was formed due to the crossing of the signal lines at the level of 20805. The nearest resistance area for BTC/USD on the chart is at the level of 20665. The support area for Bitcoin is at the level of 18955.
The cancellation of this option of falling in the value of the digital asset Bitcoin tomorrow will be a strong growth and a breakdown of the upper border of the Ichimoku indicator Cloud with the closing of quotes above the level of 21605. This option will indicate a change in the bearish trend in favor of the bullish trend and continued growth of the Bitcoin exchange rate against the US Dollar on September 7, 2022. Expect an acceleration in the fall of BTC/USD quotes with a breakdown of the support area and closing the price below the level of 19455.
Bitcoin Forecast and Analysis September 8, 2022 suggests an attempt to develop a cryptocurrency correction and a test of the resistance level near the 20205 area. Where should one consider the continuation of the fall in the Bitcoin rate with a potential target near the level of 17465. Cancellation of the reduction option will be a strong increase in the value of the asset and breakdown of the area of 21605. This will indicate a continuation of the rise with a potential target near the level of 23565.