BTC/USD are traded at 36179 and continue to move within the correction and the upward channel. Here the “Triangle” model is formed. The capitalization of the Bitcoin cryptocurrency at the time of the publication of the forecast is $677,642,491,878. Moving averages indicate a short-term bullish trend for Bitcoin. Prices are again testing the area between the lines, which indicates pressure from buyers of Digital Gold and a potential continuation of the rise in the asset value from the current levels. As part of the cryptocurrency rate forecast for tomorrow, January 15, 2021, we should expect an attempt to develop a correction in the value of a digital asset and a test of the support level near the 34695 area. Where should we again expect a rebound and an attempt to increase the Bitcoin rate with a target above the 45265 area.
Bitcoin Forecast and Analysis BTC/USD January 19, 2021
An additional signal in favor of raising the BTC/USD quotes will be a test of the trend line on the relative strength index (RSI). The second signal will be a rebound from the lower “Triangle” pattern. Cancellation of the option to raise the rate and value of Bitcoin will be a fall in the value of the asset and a breakdown of the area of 31805. This will indicate a breakdown of the support area and a continued decline in the Bitcoin exchange rate with a potential target at the level of 27050. With the breakdown of the resistance area and the closing of cryptocurrency quotes above the level of 41505, we should expect an acceleration of the rise asset within the framework of the development of the “Triangle” model.
Bitcoin Forecast and Analysis BTC/USD January 19, 2021 suggests an attempt to test the support level near the 34695 area. And further, the cryptocurrency will continue to grow with a potential target at 45265. An additional signal in favor of the Bitcoin rate rise will be a test of the support line on the relative strength index (RSI). Cancellation of the cryptocurrency growth option will be a fall and a breakdown of the 31805 area. This will indicate a continued decline with a potential target below the 27050 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
