BTC/USD quotes are trading at 96250 and continue to move within the development of the correction and the descending channel. Moving averages indicate the presence of a short-term bullish trend for Bitcoin. Prices have broken through the area between the signal lines upwards, which indicates pressure from buyers of “Digital Gold” and potential continuation of the growth in the value of the asset from the current levels. As part of the cryptocurrency rate forecast for tomorrow, January 15, 2025, we should expect an attempt to develop growth in the value of the digital asset and a test of the resistance level near the 98605 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 80205 area.
Bitcoin Forecast and Analysis for January 15, 2025
An additional signal in favor of a decrease in 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 descending channel. The cancellation of the option of falling coin rate and Bitcoin price will be a strong growth of the asset price and a breakout of the 103405 area. This will indicate a breakout of the resistance area and continued growth of the Bitcoin rate with a potential target at 110605. Confirmation of the asset price fall will be a breakout of the support area with the price fixing below 85065, which will indicate a breakout of the lower border of the bullish channel.
Bitcoin Forecast and Analysis for January 15, 2025 suggests an attempt to test the resistance level near the 98605 area. And then, the continuation of the fall of the cryptocurrency with a potential target at 80205. An additional signal in favor of the decline in the Bitcoin rate will be a test of the resistance line on the relative strength indicator. The breakdown of the 103405 area will cancel the option of the digital currency falling. This will indicate continued growth of the coin with a potential target above the 110605 mark.
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