BTC/USD are trading at 8777 and continue to move as part of the growth and upward channel. Bitcoin cryptocurrency capitalization at the time of the publication of the forecast is $159 112 405 210. Moving averages indicate the presence of a short-term bullish trend for Bitcoin. As part of the cryptocurrency rate forecast for tomorrow, January 16, 2020, one should expect an attempt to drop the value of the digital asset and test the support level near the area of 8155. Where again we should expect a rebound and an attempt to continue the growth of the Bitcoin rate with the target above the area of 10685.
Bitcoin Forecast and Analysis BTC/USD January 16, 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 lower boundary of the ascending channel. Cancellation of the option to raise the Bitcoin exchange rate will be a fall and a breakdown of the area of 7545. This will indicate a breakdown of the lower boundary of the model and a continuation of the fall of the Bitcoin rate with a potential target at 6655. With the breakdown of the resistance area and closing of cryptocurrency quotes above the level of 9265, we should expect confirmation of a growth in the rate of the digital asset.
Bitcoin Forecast and Analysis BTC/USD January 16, 2020 implies an attempt to test the support level near the area of 8155. And then, the cryptocurrency will continue to grow with a potential target at 10685. An additional signal in favor of the Bitcoin appreciation 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 7545 area. This will indicate a continued decline with a potential target below the 6655 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
