BTC/USD are trading at 7207 and continue to move as part of the correction and the formation of the «Triangle» model. Bitcoin cryptocurrency capitalization at the time of the publication of the forecast is $131 967 186 254. Moving averages indicate the presence of a short-term bearish trend for Bitcoin. Prices once again push away from the area between the signal lines, indicating a potential rebound down from current levels and pressure from sellers. As part of the cryptocurrency rate forecast for tomorrow, January 1, 2020, we should expect an attempt to drop the value of the digital asset and test the support level near the area of 6825. Where again we should expect a rebound and an attempt to continue the growth of the Bitcoin rate with a target above the area of 8305.
Bitcoin Forecast and Analysis BTC/USD January 1, 2020
An additional signal in favor of the growth of BTC/USD quotes will be an uptrend test on the relative strength index (RSI). The second signal will be a rebound from the support area. Cancellation of the option to raise the Bitcoin exchange rate will be a fall and a breakdown of the area of 6375. This will indicate a breakdown of the lower boundary of the model and a continuation of the fall of the Bitcoin exchange rate with a potential target at the level of 5455. With the breakdown of the resistance area and closing of cryptocurrency quotes above the level of 7995, we should expect confirmation of the growth of the digital asset rate.
Bitcoin Forecast and Analysis BTC/USD January 1, 2020 implies an attempt to test the support level near the area of 6825. And then, the cryptocurrency will continue to grow with a potential target at the level of 8305. An additional signal in favor of the Bitcoin exchange rate will be the support line test on the relative strength index (RSI). Cancellation of the cryptocurrency growth option will be a fall and a breakdown of the area of 6375. This will indicate a continued decline with a potential target below the area of 5455.
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