The Bitcoin cryptocurrency is trading at the level of 37446 and continues to move within the fall and the formation of the ”Triangle" model. BTC/USD quotes continue to move 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 exchange rate forecast for May 25, 2021 from belinvestor.com. The bullish correction of the asset value is expected to develop and the lower limit of the Ichimoku indicator Cloud is expected to test near the level of 38205. 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 24055.
Bitcoin exchange rate and BTC/USD forecast for May 25, 2021
An additional signal in favor of a decline in the BTC/USD cryptocurrency will be a test of the resistance area. The second signal will be a rebound from the upper boundary of the ”Triangle" model. Earlier, a strong signal was received for the sale of the Bitcoin cryptocurrency. The signal was formed due to the intersection of signal lines at the level of 34505. The nearest resistance area for BTC/USD on the chart is located at the level of 42800. The support area for Bitcoin is located at the level of 30870.
Bitcoin exchange rate and BTC/USD forecast for May 25, 2021
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 limit of the Ichimoku indicator Cloud with the closing of quotes above the level of 43205. This option will indicate a change in the bearish trend in favor of the bullish trend and the continued rise of the Bitcoin exchange rate against the US Dollar on May 25, 2021. Expect an acceleration in the fall of BTC/USD quotes with a breakdown of the support area and the price closing below the level of 29055.
Thus, the Bitcoin exchange rate and the BTC/USD forecast for May 25, 2021 suggests an attempt to develop a bullish correction of the cryptocurrency and a test of the resistance level near the area of 38205. Where should we consider the continuation of the fall of the Bitcoin exchange rate with a potential target near the level of 24055. The cancellation of the reduction option will be a strong increase in the value of the asset and a breakdown of the 43205 area. This will indicate a continued rise with a potential target near the 50025 level.