Bitcoin BTC/USD are trading at 9491 and continue to move as part of the decline and downward channel. Cryptocurrency capitalization at the time of the publication of the forecast is $170 364 157 950. Moving averages indicate the presence of a bearish trend in Bitcoin. As part of the cryptocurrency exchange rate forecast for tomorrow, July 30, 2019, we should expect an attempt to fall and a test of the support level near the 8550 area.
Bitcoin Forecast and Analysis BTC/USD July 30, 2019
A test of the support line on the relative strength indicator will be in favor of the BTC/USD price increase. The second signal will be a rebound from the lower boundary of the ascending model «Wolfe Wave». Cancellation of the Bitcoin exchange rate growth option will be a fall and a breakdown of the 7350 area. This will indicate a breakdown of the lower border of the model and the continuation of the fall of the Bitcoin rate with a potential target at 6450. With the breakdown of the resistance area and the closure of cryptocurrency quotes above the 10150, you should expect confirmation of the growth of the digital asset rate.
Bitcoin Forecast and Analysis BTC/USD July 30, 2019 implies an attempt to test the support level near the 8550 area. And further, the cryptocurrency will continue to grow with a potential target at the level of 11350. An additional signal in favor of the Bitcoin exchange rate will be the trend uptrend on the relative strength indicator. Cancellation of the cryptocurrency growth option will be a fall and a breakdown of the 7350 area. This will indicate a continued decline with a potential target below 6450.
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