Bitcoin BTC/USD are trading at 9978 and continue to move as part of a decline and a downward channel. Cryptocurrency capitalization at the time of the publication of the forecast is $177 501 495 190. Sliding averages indicate the presence of a bearish trend in Bitcoin. As part of the cryptocurrency exchange rate forecast for July 24, 2019, we should expect an growth attempt and a resistance level test near the area of 10350. Where should we again expect a rebound and an attempt to continue falling Bitcoin exchange rate with a target below the 7850 area.
Bitcoin Forecast and Analysis BTC/USD July 24, 2019
A test of the resistance line on the relative strength indicator will be in favor of the BTC/USD quotes drop. The second signal will be a rebound from the upper boundary of the downward channel. Cancellation of the Bitcoin depreciation option will be a strong growth and breakdown of the area of 11400. This will indicate a breakdown of the upper boundary of the channel and continued growth of the Bitcoin rate with a potential target at the level of 11900. With the breakdown of the support area and closure of cryptocurrency quotes below the 9350.
Bitcoin Forecast and Analysis BTC/USD July 24, 2019 implies an attempt to test the resistance level near the area of 10350. And then the cryptocurrency will continue to fall with a potential target at 7850. 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 to reduce cryptocurrency will be a strong growth and the breakdown of the area of 11400. This will indicate a continuation of the rise with a potential goal above 11900.
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