Bitcoin Forecast and Analysis BTC/USD July 14, 2020



BTC/USD are trading at 9289 and continue to move as part of the correction and the formation of the «Wedge» model. Bitcoin cryptocurrency capitalization at the time of the publication of the forecast is $171 184 171 984. Moving averages indicate the presence of a short-term bullish trend for 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 14, 2020, we should expect an attempt to continue the development of a bullish correction of the value of a digital asset and test the resistance level near the area of ​​9385. 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 ​​8925.

Bitcoin Forecast and Analysis BTC/USD July 14, 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 «Wedge» model. 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 9475 area. This will indicate a breakdown of the resistance area and continued growth of the Bitcoin exchange rate with a potential target at the level of 10205. With the breakdown of the support area and closing of the cryptocurrency quotes, the fall of 9025 level should be expected to confirm the fall digital asset rate.

Bitcoin Forecast and Analysis BTC/USD July 14, 2020

Bitcoin Forecast and Analysis BTC/USD July 14, 2020 implies an attempt to test the resistance level near the area of ​​9385. And then, the cryptocurrency will continue to fall with a potential target at 8925. 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 ​​9475. This will indicate a continuation of the rise with a potential target above the area of ​​10205.


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