Bitcoin BTC/USD are trading at 10698 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 $187 112 945 152. Moving averages indicate the presence of an upward trend in Bitcoin. As part of the cryptocurrency exchange rate forecast for July 17, 2019, we should expect an attempt to decline and a test of the support level near the area of 10255. Where should we expect a rebound again and an attempt to continue the growth of the Bitcoin rate with a target above the 13950 area.
Bitcoin Forecast and Analysis BTC/USD July 17, 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 9350 area. This will indicate a breakdown of the lower boundary of the channel and a continuation of the Bitcoin exchange rate decline with a potential target at 8250. With the breakdown of the upper limit of the Triangle model and the closure of cryptocurrency quotes above the level of 13250, growth can be expected course digital asset.
Bitcoin Forecast and Analysis BTC/USD July 17, 2019 suggests an attempt to test the support level near 10255. And further, cryptocurrency will continue to grow with a potential target of 13950. 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 9350. This will indicate a continuation of the rise with a potential target above 8250.