Bitcoin BTC/USD are trading at 3579 and continue to move as part of the «Triangle» model. Cryptocurrency capitalization at the time of the publication of the forecast is $63 502 356 553. Moving averages indicate a downward trend in Bitcoin. At the moment, we should expect an attempt to grow and test the resistance level near the area of 3695. 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 3080.
Bitcoin Forecast and Analysis BTC/USD January 18, 2019
In favor of falling BTC/USD quotes, a test of the downward trend line on the relative strength index (RSI) appears. Cancellation of the option of falling Bitcoin will be a strong growth and the breakdown of the 3790 area. This will indicate a breakdown of the upper limit of the «Triangle» model and the 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 18, 2019 suggests an attempt to test the resistance level near 3695. And then the cryptocurrency will continue to fall with a potential target at 3080. 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 growth and a breakdown of the 3790 region. This will indicate continued growth with a potential target above 4050.