BTC/USD quotes are trading at 92156 and continue to move within the development of the fall and the descending channel. Moving averages indicate the presence of a short-term bearish trend for Bitcoin. Prices have broken through the area between the signal lines downwards, which indicates pressure from sellers of “Digital Gold” and a potential continuation of the fall in the value of the asset from the current levels. As part of the cryptocurrency rate forecast for tomorrow, December 31, 2024, we should expect an attempt to develop growth in the value of the digital asset and a test of the resistance level near the 93305 area. From where we should again expect a rebound downwards and an attempt to continue the fall of the Bitcoin rate with a target below the 88435 area.
Bitcoin Forecast and Analysis for December 31, 2024
An additional signal in favor of the fall of BTC/USD quotes will be a test of the resistance line on the relative strength indicator. The second signal in favor of this option will be a rebound from the upper border of the bearish channel. The cancellation of the option for a decrease in the coin rate and the cost of Bitcoin will be a strong increase in the asset value and a breakout of the 95205 area. This will indicate a breakout of the resistance area and continued growth of the Bitcoin rate with a potential target at 99865. A breakout of the support area with a price consolidation below 90765 will confirm the fall in the asset price.
Bitcoin Forecast and Analysis for December 31, 2024 suggests an attempt to test the resistance level near the 93305 area. And then, a continuation of the fall of the cryptocurrency with a potential target at 88435. An additional signal in favor of a decrease in the Bitcoin rate will be a test of the resistance line on the relative strength indicator. The cancellation of the option for a fall in the digital currency will be a breakout of the 95205 area. This will indicate continued growth of the coin with a potential target above 99865.
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