BTC/USD are trading at 11216 and continue to move as part of the growth and formation of the «Triangle» pattern. Bitcoin cryptocurrency capitalization at the time of the publication of the forecast is $207 272 486 508. 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 30, 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 10905 area. Where can we expect a rebound and an attempt to continue the growth of the Bitcoin rate with a target above the 12505 area.
Bitcoin Forecast and Analysis BTC/USD July 30, 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 lower border of the «Triangle» model. 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 10235. This will indicate a breakdown of the support area and the continuation of the fall in the Bitcoin rate with a potential target at 9705. With the breakdown of the resistance area and closing of cryptocurrency quotes above the level of 11765, we should expect confirmation of the growth digital asset, in this case we can talk about the breakdown of the upper boundary of the «Triangle» model and the beginning of the development of this model.
Bitcoin Forecast and Analysis BTC/USD July 30, 2020 suggests an attempt to test the support level near the 10905 area. And further, the cryptocurrency will continue to grow with a potential target at 12505. 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 growth option for cryptocurrency will be a fall and a breakdown of the 10235 area. This will indicate a continued decline with a potential target below the 9705 area.
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