BTC/USD quotes are trading at 98923 and continue to move within the fall. 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 fall in the asset’s value from the current levels. As part of the cryptocurrency rate forecast for tomorrow, January 28, 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 101565 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 89305 area.
Bitcoin Forecast and Analysis for January 28, 2025
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 lower border of the “Triangle” model. 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 106505 area. This will indicate a breakout of the resistance area and continued growth of the Bitcoin rate with a potential target at 115055. The fall of the asset price will be confirmed by a breakout of the support area with the price fixing below 95065, which will indicate a breakout of the lower border of the bullish channel.
Bitcoin Forecast and Analysis for January 28, 2025 suggests an attempt to test the resistance level near the 101565 area. And then, the continuation of the fall of the cryptocurrency with a potential target at 89305. 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 breakdown of the 106505 area will cancel the option of the digital currency falling. This will indicate a continuation of the coin’s rise with a potential target above the 115055 mark.
