Bitcoin BTC/USD are trading at 11660 and continue to move as part of the correction and the upward channel. Cryptocurrency capitalization at the time of the publication of the forecast is $209 597 444 596. Moving averages indicate the presence of an upward trend in Bitcoin. As part of the cryptocurrency exchange rate forecast for July 12, 2019, we should expect an attempt to decline and a test of the support level near the area 11165. Where again we should expect a rebound and an attempt to continue the growth of the Bitcoin rate with a target above the area 14250.
Bitcoin Forecast and Analysis BTC/USD July 12, 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 rate growth option will be a fall and a breakdown of the 10850 area. 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 9750. With the breakdown of the resistance area and the closure of cryptocurrency quotes above the level of 13050, we should expect confirmation of the growth of the digital asset rate.
Bitcoin Forecast and Analysis BTC/USD July 12, 2019 suggests an attempt to test the support level near 11165. And further, cryptocurrency will continue to grow with a potential target of 14,250. 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 10850. This will indicate a continuation of the rise with a potential target above 9750.
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