BTC/USD are trading at 8608 and continue to move as part of the growth and bullish channel. Bitcoin cryptocurrency capitalization at the time of the publication of the forecast is $156 643 213 687. Moving averages indicate the presence of a short-term bullish trend for Bitcoin. As part of the cryptocurrency rate forecast for tomorrow, January 17, 2020, we should expect an attempt to drop the value of the digital asset and test the support level near the area of 8185. Where again we should expect a rebound and an attempt to continue the growth of the Bitcoin rate with a target above the area of 10825.
Bitcoin Forecast and Analysis BTC/USD January 17, 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 7665. 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 6905. With the breakdown of the resistance area and closing of cryptocurrency quotes above the level of 9265, we should expect confirmation of the growth of the digital asset rate.
Bitcoin Forecast and Analysis BTC/USD January 17, 2020 suggests an attempt to test the support level near the area of 8185. And then, the cryptocurrency will continue to grow with a potential target at 10825. 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 7665 area. This will indicate a continued decline with a potential target below the 6905 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
