Bitcoin BTC/USD are trading at 10698 and continue to move as part of the correction and the formation of the «Wolfe Wave» bull model. Cryptocurrency capitalization at the time of the publication of the forecast is $173 459 986 377. Moving averages indicate the presence of a downward trend in Bitcoin. As part of the cryptocurrency exchange rate forecast for July 18, 2019, we should expect an attempt to decline and a test of the support level near the region of 8850. Where should we again expect a rebound and an attempt to continue the growth of the Bitcoin rate with a target above the 11350 region.
Bitcoin Forecast and Analysis BTC/USD July 18, 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 model «Wolfe Wave». Cancellation of the Bitcoin exchange rate growth option will be a fall and a breakdown of the 8650 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 8050. With the breakdown of the upper limit of the Wave Wolf model and the closure of cryptocurrency quotes above the level of 10500, we should expect confirmation the growth rate of the digital asset.
Bitcoin Forecast and Analysis BTC/USD July 18, 2019 suggests an attempt to test the support level near the region of 8850. And then the cryptocurrency will continue to grow with a potential target of 11350. 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 8650. This will indicate a continuation of the rise with a potential target above 8050.
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