Bitcoin Forecast and Analysis BTC/USD July 10, 2020



BTC/USD are trading at 9218 and continue to move as part of the fall and the downward channel. Bitcoin cryptocurrency capitalization at the time of the publication of the forecast is $170 369 196 417. Moving averages indicate the presence of a short-term bullish trend in Bitcoin. Prices are testing the area between the lines, which indicates pressure from the buyers of Digital Gold and the potential continuation of the rise in the value of the asset. As part of the cryptocurrency rate forecast for tomorrow July 10, 2020, we should expect an attempt to continue the development of the bullish correction of the value of the digital asset and test the resistance level near the area of ​​9405. Where again we should expect a rebound and an attempt to continue the fall of the Bitcoin rate with the target below the area of ​​8685.

Bitcoin Forecast and Analysis BTC/USD July 10, 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 upper boundary of the downward channel. Cancellation of the option to drop the Bitcoin exchange rate and value will be a strong growth in the asset value and the breakdown of the 9705 area. This will indicate a breakdown of the resistance area and continued growth of the Bitcoin exchange rate with a potential target at 10345. With the breakdown of the support area and the closure of cryptocurrency quotes, the fall at 8855 should be expected to confirm the fall digital asset rate.

Bitcoin Forecast and Analysis BTC/USD July 10, 2020

Bitcoin Forecast and Analysis BTC/USD July 10, 2020 suggests an attempt to test the resistance level near the area of ​​9405. And then, the cryptocurrency will continue to fall with a potential target at 8685. 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 a breakdown of the area of ​​9705. This will indicate a continuation of the rise with a potential target above the area of ​​10345.


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