BTC/USD are traded at 34567 and continue to move as part of the correction and the upward channel. A bearish “Wolfe Wave” pattern is also forming here. The capitalization of the Bitcoin cryptocurrency at the time of the publication of the forecast is $637,992,904,239. Moving averages indicate a short-term bearish trend for Bitcoin. Prices are again testing the area between the lines, which indicates pressure from the sellers of Digital Gold and a potential continuation of the fall in the asset value from the current levels. As part of the cryptocurrency rate forecast for tomorrow, January 14, 2021, we should expect an attempt to develop a growth in the value of a digital asset and a test of the resistance level near the 37205 area. Where again should we expect a rebound and an attempt to reduce the Bitcoin rate with a target below the 27205 area.
Bitcoin Forecast and Analysis BTC/USD January 14, 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 bearish pattern. Cancellation of the option to drop the Bitcoin rate and value will be a strong increase in the value of the asset and a breakdown of the 39105 area. This will indicate a breakdown of the resistance area and a continued rise in the Bitcoin exchange rate with a potential target at 44005. With the breakdown of the support area and closing of cryptocurrency quotes below 27405.
Bitcoin Forecast and Analysis BTC/USD January 14, 2021 suggests an attempt to test the resistance level near the 37205 area. And further, the cryptocurrency will continue to fall with a potential target at 27205. 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 39105 area. This will indicate a continued rise with a potential target above the 44005 area.
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