Bitcoin BTC/USD are trading at 3631 and continue to move as part of the decline. Cryptocurrency capitalization at the time of the publication of the forecast is $64 438 123 208. Moving averages indicate a downward trend in Bitcoin. At the moment, we should expect an attempt of growth and a test of the resistance level near the area of 3775. Where again we should expect a rebound and an attempt to continue the fall of the Bitcoin rate with the goal below the level of 3170.
Bitcoin Forecast and Analysis BTC/USD January 16, 2019
In favor of falling BTC/USD quotes, a test of the downward trend line on the relative strength index (RSI) will come out. Cancellation of the Bitcoin exchange rate decline will be a strong growth and a breakdown of the 3920 area. This will indicate a breakdown of the resistance level and the continued growth of the Bitcoin rate with a potential target at 4250. With the breakdown of the support area and the closure of cryptocurrency quotes below 3400, we should expect confirmation of a decline in the digital asset rate.
Bitcoin Forecast and Analysis BTC/USD January 16, 2019 suggests an attempt to test the resistance level near 3775. And then the cryptocurrency will continue to fall with a potential target of 3170. An additional signal in favor of Bitcoin depreciation will be a test of the trend line on the relative strength index (RSI). Cancellation of the fall of the cryptocurrency will be the growth and breakdown of the 3920 area.