Bitcoin BTC/USD are trading at the level of 10,917 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 $189 367 993 441. Moving averages indicate the presence of a downward trend in Bitcoin. As part of the cryptocurrency exchange rate forecast for July 2, 2019, we expect an attempt at a correction and a test of the resistance level near the area of 11350.
Bitcoin Forecast and Analysis BTC/USD July 2, 2019
In favor of falling BTC/USD quotes, a test of the downward resistance line on the relative strength index (RSI) will come out. The second signal will be a rebound from the upper limit of the model «Triangle». The cancellation of the Bitcoin exchange rate option will be a strong growth and a breakdown of the 11850 region. This will indicate a breakdown of the upper limit of the model and the continued growth of the Bitcoin rate with a potential target of 12900. With the breakdown of the support area and the closure of cryptocurrency quotes below 10100.
Bitcoin Forecast and Analysis BTC/USD July 2, 2019 implies an attempt to test the resistance level near the area of 11350. And then the cryptocurrency will continue to fall with a potential target at 8950. An additional signal in favor of Bitcoin depreciation will be a test of the downward trend line on the relative strength index (RSI). Cancellation of the option of falling cryptocurrency will be a strong growth and the breakdown of the region of 11850. This will indicate a continuation of the rise with a potential goal above 12900.