Bitcoin BTC/USD are trading at 9959 and continue to move as part of the growth and formation of the «Triangle» model. The cryptocurrency capitalization at the time of the publication of the forecast is $178 459 300 123. Moving averages indicate a bearish trend in Bitcoin. As part of the cryptocurrency rate forecast for tomorrow, August 2, 2019, we should expect an attempt to fall and test the support level near the area of 9350. 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 11450.
Bitcoin Forecast and Analysis BTC/USD August 2, 2019
A test of the trend line on the relative strength index (RSI) will favor the rise in BTC/USD quotes. 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 boundary of the model and a continued decline in the Bitcoin exchange rate with a potential target at 7850. With the breakdown of the resistance area and closing of cryptocurrency quotes above 10365, we should expect confirmation of a growth in the digital asset rate and start working out the «Triangle» model.
Bitcoin Forecast and Analysis BTC/USD August 2, 2019 suggests an attempt to test the support level near the area of 9350. And then the cryptocurrency will continue to grow with a potential target at the level of 11450. An additional signal in favor of the Bitcoin exchange rate will be an uptrend test on the relative strength index (RSI). Cancellation of the cryptocurrency growth option will be a fall and a breakdown of the 8700 area. This will indicate a continued decline with a potential target below 7850.
Looking for the Best Forex Broker? We trade at RoboForex. You can receive a rebates from each trade when registering using our partner link
