Bitcoin Forecast and Analysis BTC/USD July 3, 2020



BTC/USD are trading at 9055 and continue to move as part of the correction and the formation of the «Triangle» model. Bitcoin cryptocurrency capitalization at the time of the publication of the forecast is $167 470 637 880. Moving averages indicate the presence of a short-term bearish trend in Bitcoin. Prices are testing the area between the lines, which indicates pressure from the sellers of Digital Gold and the potential continuation of the fall in the value of the asset. As part of the cryptocurrency rate forecast for tomorrow, July 3, 2020, we should expect an attempt to continue the development of the bullish correction of the value of the digital asset and test the resistance level near the area of ​​9235. Where again we should expect a rebound and an attempt to continue the fall of the Bitcoin rate with the target below the area of ​​8525.

Bitcoin Forecast and Analysis BTC/USD July 3, 2020

An additional signal in favor of falling 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 boundary of the downward channel. Cancellation of the option to drop the Bitcoin exchange rate and value will be a strong increase in the asset value and the breakdown of the 9475 area. This will indicate a breakdown of the resistance area and continued growth of the Bitcoin exchange rate with a potential target at 10165. With the breakdown of the support area and closing of the cryptocurrency quotes, the fall of 8735 should be expected to confirm the fall digital asset rate.

Bitcoin Forecast and Analysis BTC/USD July 3, 2020

Bitcoin Forecast and Analysis BTC/USD July 3, 2020 implies an attempt to test the resistance level near the area of ​​9235. And then, the cryptocurrency will continue to fall with a potential target at the level of 8525. An additional signal in favor of the Bitcoin depreciation will be the resistance line test on the relative strength index (RSI). Cancellation of the option of falling cryptocurrency will be a strong growth and the breakdown of the area of ​​9475. This will indicate a continuation of the rise with a potential target above the area of ​​10165.


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