Bitcoin BTC/USD are trading at 12291 and continue to move as part of the growth and start of testing the «Head and Shoulders» reversal pattern. Cryptocurrency capitalization at the time of the publication of the forecast is $219 516 394 124. Moving averages indicate the presence of an upward trend in Bitcoin. As part of the cryptocurrency exchange rate forecast for July 10, 2019, we should expect an attempt to decline and a test of the support level near the region of 11850. Where should we again expect a rebound and an attempt to continue the growth of the Bitcoin rate with a target above the 14350 region.
Bitcoin Forecast and Analysis BTC/USD July 10, 2019
A test of the support line on the relative strength indicator will be in favor of the BTC/USD price increase. The second signal will be a rebound from the lower boundary of the rising channel. Cancellation of the Bitcoin exchange rate growth option will be a fall and a breakdown of the area of 10650. This will indicate a breakdown of the lower boundary of the channel and the continuation of the fall of the Bitcoin rate with a potential target at 9450. With the breakdown of the resistance area and the closure of cryptocurrency quotes above the level of 13250, we should expect confirmation of the growth of the digital asset rate.
Bitcoin Forecast and Analysis BTC/USD July 10, 2019 suggests an attempt to test the support level near the region of 11850. And then the cryptocurrency will continue to grow with a potential target at 14350. An additional signal in favor of Bitcoin depreciation will be a test of the downward trend line on the relative strength indicator. Cancellation of the option of falling cryptocurrency will be a strong growth and the breakdown of the area of 10650. This will indicate a continuation of the rise with a potential goal above 9450.