Bitcoin BTC/USD ends the trading week at the level of 10319 and continues to move in the framework of the downward 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 of correction and a test of the area of support near the level of 10150. Where once again should we expect a rebound and an attempt to continue the growth of Bitcoin with a potential target above the level of 15350.
Bitcoin Forecast and Analysis July 22 — 26, 2019
In favor of the rise of BTC/USD quotes in the current trading week of July 22 — 26, 2019, a test of the rising trend line on the relative strength indicator will be made. 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 8450 area. This will indicate a breakdown of the lower boundary of the ascending channel and the continuation of the fall of BTC/USD with a potential target below the level of 5650. The resistance of the resistance area and closing of quotes above the level of 12850 will confirm the development of the upward trend.
Bitcoin Forecast and Analysis July 22 — 26, 2019 implies an attempt to support the area near the level of 10150. Then, the continued growth of cryptocurrency to the region above the level of 15350. An additional signal in favor of raising the Bitcoin rate will be the test of the support line on the relative strength indicator. The cancellation of the Bitcoin cryptocurrency quotes growth option will be the fall and the breakdown of the 8450 area. In this case, we should expect a further decline with the goal at the level of 5650.