Bitcoin BTC/USD are trading at 3780 and continue to move as part of the correction. Cryptocurrency capitalization at the time of the publication of the forecast is $66 950 539 752. Moving averages indicate a bearish trend in Bitcoin. At the moment, we should expect an attempt of growth and a test of the resistance level near the area of 3950. Where again we should expect a rebound and an attempt to continue the fall of the Bitcoin rate with the goal below the level of 3040.
Bitcoin Forecast and Analysis BTC/USD January 11, 2019
The test of the broken trend line on the relative strength index (RSI) will be in favor of the BTC/USD quotes drop. Cancellation of the option of falling Bitcoin will be a strong growth and breakdown of the 4150 area. This will indicate a breakdown of the upper limit of the Triangle model and continued growth of the Bitcoin rate with a potential target at 4650. With the breakdown of the lower boundary of the «Triangle» model and the closure of cryptocurrency quotes below 3570 We should expect confirmation of the decline in the digital asset.
Bitcoin Forecast and Analysis BTC/USD January 11, 2019 suggests an attempt to test the resistance level near the area of 3950. And then the cryptocurrency will continue to fall with a potential target at 3040. An additional signal in favor of Bitcoin depreciation will be a test of the trend line on the relative strength index (RSI). Cancellation of the option of falling cryptocurrency will be the growth and breakdown of the 4150 area.