BTC/USD are traded at 44039 and continue to move within the framework of a strong growth and an upward channel. The move came on the news that Tesla is investing $1.5 billion in Bitcoin. The capitalization of the Bitcoin cryptocurrency at the time of the publication of the forecast is $816,004,948,521. Moving averages indicate a short-term bullish trend for Bitcoin. Prices went up from the area between the signal lines, which indicates pressure from buyers of Digital Gold and a potential continuation of the asset’s price growth from the current levels. As part of the cryptocurrency rate forecast for tomorrow, February 9, 2021, we should expect an attempt to develop a correction in the value of a digital asset and a test of the support level near the 40305 area. Where again should we expect a rebound and an attempt to increase the Bitcoin rate with a target above the 55065 area.
Bitcoin Forecast and Analysis BTC/USD February 9, 2021
An additional signal in favor of raising the BTC/USD quotes will be a test of the trend line on the relative strength index (RSI). The second signal will be a rebound from the lower border of the ascending channel. Cancellation of the option to raise the rate and value of Bitcoin will be a fall in the value of the asset and a breakdown of the 35405 area. This will indicate a breakdown of the support area and a continued decline in the Bitcoin exchange rate with a potential target at 31505. With the breakdown of the resistance area and closing of cryptocurrency quotes above 39705.
Bitcoin Forecast and Analysis BTC/USD February 9, 2021 suggests an attempt to test the support level near the area of 40305. And further, the cryptocurrency will continue to grow with a potential target at 55065. An additional signal in favor of the Bitcoin rate rise will be a test of the support line on the relative strength index (RSI). Cancellation of the cryptocurrency growth option will be a fall and a breakdown of the 35405 area. This will indicate a continued decline with a potential target below the 31505 area.
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