Bitcoin Forecast and Analysis BTC/USD July 22, 2020



BTC/USD are trading at 9381 and continue to move as part of strong growth and the beginning of the development of the «Triangle» model. Bitcoin cryptocurrency capitalization at the time of the publication of the forecast is $172 526 465 801. Moving averages indicate a short-term bullish trend for Bitcoin. Prices moved up from the area between the lines, which indicates pressure from buyers of Digital Gold and a potential continued growth in the value of the asset. As part of the cryptocurrency rate forecast for tomorrow, July 22, 2020, we should expect an attempt to develop a downward correction in the value of a digital asset and a test of the support level near the 9195 area. Where again should we expect a rebound and an attempt to continue the growth of the Bitcoin rate with a target above the 9725 area.

Bitcoin Forecast and Analysis BTC/USD July 22, 2020

An additional signal in favor of the growth of BTC/USD quotes will be a test of the trend line on the relative strength index (RSI). The second signal will be a rebound from the upper border of the descending channel. Cancellation of the option to raise the rate and value of Bitcoin will be a fall in the value of the asset and a breakdown of the area of ​​9005. This will indicate a breakdown of the support area and the continuation of the fall in the Bitcoin rate with a potential target at 8605. With the breakdown of the resistance area and the closing of cryptocurrency quotes above the level of 9705, we should expect confirmation of the growth of the rate digital asset.

Bitcoin Forecast and Analysis BTC/USD July 22, 2020

Bitcoin Forecast and Analysis BTC/USD July 22, 2020 suggests an attempt to test the support level near the 9195 area. And further, the cryptocurrency will continue to grow with a potential target at 9725. An additional signal in favor of the Bitcoin rate rise will be a test of the support line on the relative strength index (RSI). Cancellation of the cryptocurrency growth option will be a fall and a breakdown of the 9005 area. This will indicate a continued decline with a potential target below the 8605 area.


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