Bitcoin BTC/USD are trading at 3599 and continue to move as part of the «Triangle» model. Cryptocurrency capitalization at the time of the publication of the forecast is $63 986 662 485. Moving averages indicate a bearish trend in Bitcoin. At the moment, we should expect an attempt to grow and test the resistance level near the area of 3635. Where again we should expect a rebound and an attempt to continue the fall of the Bitcoin exchange rate with a target below the level of 3250.
Bitcoin Forecast and Analysis BTC/USD January 17, 2019
The formation of the «Head and Shoulders» reversal trend on the relative strength index (RSI) is in favor of the BTC/USD quotes drop. Cancellation of the Bitcoin exchange rate decline will be a strong growth and the breakdown of the 3760 area. This will indicate a breakdown of the upper limit of the «Triangle» model and a continued growth of the Bitcoin rate with a potential target at 4050. With the breakdown of the support area and the closure of cryptocurrency quotes below digital asset rate.
Bitcoin Forecast and Analysis BTC/USD January 17, 2019 suggests an attempt to test the resistance level near 3635. And then the cryptocurrency will continue to fall with a potential target at 3250. An additional signal in favor of Bitcoin depreciation will be the test of forming a reversal model on the relative strength index (RSI). Cancellation of the option of falling cryptocurrency will be the growth and breakdown of the 4050 area.
