BTC/USD are traded at 35303 and continue to move within a strong correction and an upward channel. The “Head and Shoulders” reversal pattern is also forming here. The capitalization of the Bitcoin cryptocurrency at the time of the publication of the forecast is $613,145,380,814. Moving averages indicate a short-term bullish trend for Bitcoin. Prices are again testing the area between the lines, which indicates pressure from buyers of Digital Gold and a potential continuation of the asset’s value growth from the current levels. As part of the cryptocurrency rate forecast for tomorrow, January 13, 2021, we should expect an attempt to develop a bullish correction in the value of a digital asset and a test of the resistance level near the 36905 area. Where again should we expect a rebound and an attempt to reduce the Bitcoin rate with a target below the 21095 area.
Bitcoin Forecast and Analysis BTC/USD January 13, 2021
An additional signal in favor of reducing 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 upper reversal pattern. Cancellation of the option to drop the Bitcoin rate and value will be a strong growth in the value of the asset and a breakdown of the 43000 area. This will indicate a breakdown of the resistance area and a continued rise in the Bitcoin exchange rate with a potential target at 47505. With the breakdown of the support area and closing of cryptocurrency quotes below 27405.
Bitcoin Forecast and Analysis BTC/USD January 13, 2021 suggests an attempt to test the resistance level near the 36905 area. And further, the cryptocurrency will continue to fall with a potential target at 21095. An additional signal in favor of the Bitcoin rate decline will be a test of the resistance line on the relative strength index (RSI). Cancellation of the option of falling cryptocurrency will be a strong growth and a breakdown of the 43000 area. This will indicate a continued rise with a potential target above the 47505 area.
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