BTC/USD quotes are trading at 93891 and continue to move within the framework of the development of the decline and the formation of the “Triangle” model. Moving averages indicate the presence of a short-term bullish 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 growth of the asset value from the current levels. As part of the cryptocurrency rate forecast for tomorrow, January 10, 2025, we should expect an attempt to develop a slight decline in the value of the digital asset and a test of the support level near the 93205 area. From where we should again expect an upward rebound and an attempt to continue the growth of the Bitcoin rate with a target above the 112345 area.
Bitcoin Forecast and Analysis for January 10, 2025
An additional signal in favor of the rise in BTC/USD quotes will be a test of the support line on the relative strength indicator. The second signal in favor of this option will be a rebound from the lower border of the “Triangle” pattern. The cancellation of the option for the growth of the coin rate and the cost of Bitcoin will be a fall in the value of the asset and a breakout of the 87045 area. This will indicate a breakout of the support area and a continuation of the fall of the Bitcoin rate with a potential target at 81605. Confirmation of the growth of the asset price will be a breakout of the resistance area with the price fixing above the 99865 mark, which will indicate a breakout of the upper border of the “Triangle” pattern and the beginning of the implementation of the pattern with targets at the top.
Bitcoin Forecast and Analysis for January 10, 2025 suggests an attempt to test the support level near the 93205 area. And then, the continuation of the growth of the cryptocurrency with a potential target at 112345. An additional signal in favor of the rise in the Bitcoin rate will be a test of the support line on the relative strength indicator. The cancellation of the growth option for the digital currency will be a breakout of the 87045 area. This will indicate a continuation of the coin’s decline with a potential target below the 81605 mark.
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