Bitcoin Forecast and Analysis BTC/USD July 15, 2020



BTC/USD are trading at 9241 and continue to move as part of the correction and the development of the «Triangle» model. Bitcoin cryptocurrency capitalization at the time of the publication of the forecast is $170 418 841 373. Moving averages indicate the presence of a short-term sideways trend for Bitcoin. Prices have pierced the area between the uplines, 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 forecast for the cryptocurrency rate for July 15, 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 ​​9515. 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 ​​7905.

Bitcoin Forecast and Analysis BTC/USD July 15, 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 resistance level. 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 10055 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 10675. With the breakdown of the support area and closing of the cryptocurrency quotes, the fall of the level of 8765 should be expected to confirm the fall digital asset rate.

Bitcoin Forecast and Analysis BTC/USD July 15, 2020

Bitcoin Forecast and Analysis BTC/USD July 15, 2020 implies an attempt to test the resistance level near the area of ​​9515. And then, the cryptocurrency will continue to fall with a potential target at the level of 7905. 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 ​​10055. This will indicate a continuation of the rise with a potential target above the area of ​​10675.


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