BTC/USD are trading at 32511 and continue to move as part of the fall and the beginning of the development of the “Triangle” model. The capitalization of the Bitcoin cryptocurrency at the time of the publication of the forecast is $ 611,804,826,220. Moving averages indicate a short-term sideways trend in Bitcoin. Prices have broken the area between the signal lines upwards, which indicates pressure from buyers of “Digital Gold” and a potential continuation of the fall in the value of the asset already from the current levels. As part of the cryptocurrency rate forecast for tomorrow, July 9, 2021, we should expect an attempt to develop a growth in the value of a digital asset and a test of the resistance level near the 33250 area. Where again should we expect a rebound and an attempt to drop the Bitcoin rate with a target below the 28405 area.
Bitcoin Forecast and Analysis BTC/USD July 9, 2021
An additional signal in favor of reducing the BTC/USD quotes will be a test of the downward trend line on the relative strength index (RSI). The second signal will be a rebound from the lower border of the “Triangle” pattern. Cancellation of the option to depreciate the exchange rate and value of Bitcoin will be a strong growth in the value of the asset and a breakdown of the 36505 area. This will indicate a breakdown of the resistance area and a continued rise in the Bitcoin exchange rate with a potential target at 42205. Confirmation of the fall in the price of the asset will be a breakdown of the support area with the price fixing below 29955.
Bitcoin Forecast and Analysis BTC/USD July 9, 2021 suggests an attempt to test the resistance level near the area of 33250. And further, the cryptocurrency will continue to fall with a potential target at 28405. An additional signal in favor of the Bitcoin rate decline will be a test of the resistance line on the relative strength index (RSI). Cancellation of the cryptocurrency fall option will be a strong growth and a breakdown of the 36505 area. This will indicate a continued rise with a potential target above the 42205 area.
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