Bitcoin BTC/USD are trading at the level of 10632 and continue to move as part of the growth and the formation of the bull wave «Wolf Wave». Cryptocurrency capitalization at the time of the publication of the forecast is $167 450 595 343. Moving averages indicate a downward trend in Bitcoin. As part of the cryptocurrency exchange rate forecast for July 19, 2019, we should expect an attempt to fall and a test of the support level near the 9900 area.
Bitcoin Forecast and Analysis BTC/USD July 19, 2019
A test of the support line on the relative strength indicator will be in favor of the growth of BTC/USD quotes. The second signal will be a rebound from the upper border of the «Wolfe Wave» model. Cancellation of the Bitcoin exchange rate growth option will be a fall and a breakdown of the 8900 area. This will indicate a breakdown of the lower boundary of the model and a continued decline of the Bitcoin rate with a potential target at 7650. With the breakdown of the resistance area and the closure of cryptocurrency quotes above the level of 11350, we should expect confirmation of the growth of the digital asset rate.
Bitcoin Forecast and Analysis BTC/USD July 19, 2019 suggests an attempt to test the support level near the 9900 area. And further cryptocurrency growth continues with a potential goal at 12750. An additional signal in favor of raising the Bitcoin rate will be a test of the downward trend on the relative strength indicator. Cancellation of the cryptocurrency growth option will be a fall and a breakdown of the 8900 region. This will indicate a further decline with a potential target below 7650.
