BTC/USD are traded at 38704 and continue to move within the correction and the upward channel. Here, the “Triangle” model is formed. Bitcoin cryptocurrency capitalization at the time of the publication of the forecast is $711,018,306,379. Moving averages indicate a short-term bullish trend for Bitcoin. Prices went up from the area between the lines, which indicates pressure from the buyers of Digital Gold and a potential continuation of the rise in the asset value from the current levels. As part of the cryptocurrency rate forecast for tomorrow, January 15, 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 33755 area. Where again should we expect a rebound and an attempt to increase the Bitcoin rate with a target above the 47305 area.
Bitcoin Forecast and Analysis BTC/USD January 15, 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 “Triangle” pattern. 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 area of 29005. This will indicate a breakdown of the support area and a continued decline in the Bitcoin exchange rate with a potential target at 25050. With the breakdown of the resistance area and closing of cryptocurrency quotes above the level of 43025, we should expect an acceleration of the rise asset within the framework of the development of the “Triangle” model.
Bitcoin Forecast and Analysis BTC/USD January 15, 2021 suggests an attempt to test the support level near the 33755 area. And further, the cryptocurrency will continue to grow with a potential target at 47305. 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 29005 area. This will indicate a continued decline with a potential target below the 25050 area.
Looking for the Best Forex Broker? We trade at RoboForex. You can receive a rebates from each trade when registering using our partner link