Bitcoin BTC/USD are trading at the level of 10054 and continue to move as part of the growth and formation of the «Triangle» model. Cryptocurrency capitalization at the time of the publication of the forecast is $179 398 328 352. Moving averages indicate a bitter trend in Bitcoin. As part of the cryptocurrency exchange rate forecast for tomorrow, on August 1, 2019, we should expect an attempt to fall and a test of the support level near the 9150 area.
Bitcoin Forecast and Analysis BTC/USD August 1, 2019
In favor of lifting the BTC/USD quotes, a test of the trend line on the relative strength indicator will be made. The second signal will be a rebound from the lower boundary of the Triangle model. Cancellation of the Bitcoin exchange rate growth option will be a fall and a breakdown of the 8700 area. This will indicate a breakdown of the lower border of the model and the continuation of the fall of the Bitcoin rate with a potential target at 7450. With the breakdown of the resistance area and the closure of cryptocurrency quotes above the level of 10365, we should expect confirmation of the growth of the digital asset rate.
Bitcoin Forecast and Analysis BTC/USD August 1, 2019 implies an attempt to test the support level near 9150. And then the cryptocurrency will continue to grow with a potential target of 11550. An additional signal in favor of the Bitcoin exchange rate will be a trend uptrend on the relative strength index (RSI). Cancellation of the option of cryptocurrency growth will fall and the breakdown of the area of 8700. This will indicate a continuation of the decline with a potential target below 7450.
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