Bitcoin BTC/USD are traded at 10164 and continue to move as part of the correction and the formation of the regular bullish model «Wolfe Wave». Cryptocurrency capitalization at the time of the publication of the forecast is $183 423 415 65. Moving averages indicate the presence of an upward trend in Bitcoin. As part of the cryptocurrency exchange rate forecast for tomorrow, July 23, 2019, we should expect an attempt to fall and a test of the support level near the 8650 area.
Bitcoin Forecast and Analysis BTC/USD July 23, 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 lower boundary of the model «Wolfe Wave». Cancellation of the Bitcoin exchange rate growth option will be a fall and a breakdown of the 7900 area. This will indicate a breakdown of the lower border of the model and a continued decline of the Bitcoin rate with a potential target at 6550. With the breakdown of the resistance area and the closure of cryptocurrency quotes above the level of 11150, we should expect confirmation of the growth of the digital asset rate.
Bitcoin Forecast and Analysis BTC/USD July 23, 2019 implies an attempt to test the support level near the 8650 area. And further cryptocurrency growth continues with a potential target at 12150. 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 7900 region. This will indicate a continued decline with a potential target below 6550.