Bitcoin BTC/USD ends the trading week at 11644 and continues to move as part of the correction and the upward channel. Moving averages indicate a bullish trend. An important area of support is located near the level of 9450. At the moment, we should expect an attempt to correct and test the area of support near the level of 10650. Where can we expect a rebound again and an attempt to continue the growth of the Bitcoin rate with a potential target above the level of 15550.
Bitcoin Forecast and Analysis July 15 — 19, 2019
In the current trading week of July 15 — 19, 2019, a rising trend line test on the relative strength indicator will be in favor of raising the BTC/USD quotes. The second signal will be a rebound from the lower boundary of the rising channel. The cancellation of the Bitcoin growth option will be a fall and a breakdown of the 8650 area. This will indicate a breakdown of the lower boundary of the ascending channel and a continuation of the fall of BTC/USD with a potential target below 5650. The resistance of the resistance area and closing of quotes above the level of 13250 will confirm the uptrend development. the formation of the model «Triangle» at the current levels.
Bitcoin Forecast and Analysis July 15 — 19, 2019 implies an attempt at the support area near the level of 10650. Then, the continued growth of cryptocurrency to the area above the level of 15550. An additional signal in favor of raising the rate of Bitcoin will be the test of the support line on the relative strength indicator. The cancellation of the Bitcoin cryptocurrency quotes growth option will be a fall and a breakdown of the 8650 area. In this case, we should expect a further decline with the goal at the level of 5650.