Bitcoin BTC/USD are trading at 10,530 and continue to move as part of the correction and the formation of the «Triangle» model. Cryptocurrency capitalization at the time of the publication of the forecast is $ 188 168 815 122. Moving averages indicate the presence of an upward trend in Bitcoin. As part of the cryptocurrency exchange rate forecast for tomorrow, July 16, 2019, we should expect an attempt to decline and a test of the support level near the area 10225. Where again we should expect a rebound and an attempt to continue the growth of the Bitcoin rate with a goal above the area of 12450.
Bitcoin Forecast and Analysis BTC/USD July 16, 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 Triangle model. Cancellation of the Bitcoin exchange rate growth option will be a fall and a breakdown of the 9450 area. This will indicate a breakdown of the lower boundary of the channel and a continuation of the Bitcoin exchange rate drop with a potential target at 8450. With the breakdown of the upper limit of the «Triangle» model and the closure of cryptocurrency quotes above the level of 13350, growth can be expected digital asset rate.
Bitcoin Forecast and Analysis BTC/USD July 16, 2019 suggests an attempt to test the support level near 10225. And then the cryptocurrency will continue to grow with a potential target of 12450. 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 9450. This will indicate a continuation of the rise with a potential target above 8450.
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