Bitcoin BTC/USD are traded at the level of 7387 and continue to move within the correction and formation of the «Triangle» model. At this point, we should expect an attempt to test the resistance level near the area of 7300. Where again we should expect a rebound and an attempt to continue the growth of the Bitcoin exchange rate with a target above the level of 7900.
Bitcoin (BTC/USD) technical analysis July 19, 2018
In favor of the growth of quotations BTC/USD will test the trend line on the indicator of relative strength index (RSI). The abolition of the Bitcoin growth scenario will be the fall and breakdown of the 7200 area, which will indicate the breakdown of the lower bound of the «Triangle» model and the continued drop in the Bitcoin exchange rate with a target below 6800. With the breakdown of the «Triangle» upper bound and the closing of the cryptocurrency quotes above 7480, development of the bullish trend and the beginning of the «Triangle» model development.
Bitcoin (BTC/USD) technical analysis July 19, 2018 involves trying to test the support level near the 7300 area and continuing the growth of the cryptocurrency with a potential target at 7900, an additional signal for the growth of the Bitcoin rate will be a test of the support line on the indicator of relative strength index (RSI).
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