Bitcoin Forecast and Analysis BTC/USD July 1, 2020



BTC/USD are trading at 9135 and continue to move as part of the correction. Bitcoin cryptocurrency capitalization at the time of the publication of the forecast is $ 168 805 846 491. Moving averages indicate the presence of a short-term bearish trend for Bitcoin. Prices are testing the area between the lines, which indicates pressure from the sellers of Digital Gold and the potential continuation of the fall in the value of the asset. As part of the cryptocurrency rate forecast for tomorrow, July 1, 2020, we should expect an attempt to develop a correction in the value of the digital asset and a test of the resistance level near the area of ​​9345. Where again we should expect a rebound and an attempt to continue the fall of the Bitcoin rate with a target below the area of ​​8355.

Bitcoin Forecast and Analysis BTC/USD July 1, 2020

An additional signal in favor of falling BTC/USD quotes will be a test of the trend line on the relative strength index (RSI). The second signal will be a rebound from the lower boundary of the «Triangle» model. Cancellation of the option to drop the exchange rate and the value of Bitcoin will be a strong increase in the value of the asset and a breakdown of the area of ​​9705. This will indicate a breakdown of the resistance area and continued growth of the Bitcoin rate with a potential target at 10455. With the breakdown of the support area and the closure of cryptocurrency quotes, a drop of 8805 should be expected to confirm a fall digital asset rate.

Bitcoin Forecast and Analysis BTC/USD July 1, 2020

Bitcoin Forecast and Analysis BTC/USD July 1, 2020 implies an attempt to test the resistance level near the area of ​​9345. And then, the cryptocurrency will continue to fall with a potential target at the level of 8355. An additional signal in favor of the Bitcoin exchange rate will be the resistance line test on the relative strength index (RSI). Cancellation of the option of falling cryptocurrency will be a strong growth and the breakdown of the area of ​​9705. This will indicate a continuation of the rise with a potential target above the area of ​​10455.


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