BTC/USD are traded at 36972 and continue to move as part of the correction and the formation of the “Triangle” pattern. The capitalization of the Bitcoin cryptocurrency at the time of the publication of the forecast is $ 643,552,219,146. Moving averages indicate a short-term sideways trend in Bitcoin. Prices broke through the area between the lines downward, which indicates pressure from the sellers 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 21, 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 34205 area. Where can we again expect a rebound and an attempt to increase the Bitcoin rate with a target above the 46005 area.
Bitcoin Forecast and Analysis BTC/USD January 21, 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 31755. This will indicate a breakdown of the support area and a continued decline in the Bitcoin exchange rate with a potential target at 28505. With the breakdown of the resistance area and closing of cryptocurrency quotes above the level of 41005, 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 21, 2021 suggests an attempt to test the support level near the 34205 area. And further, the cryptocurrency will continue to grow with a potential target at 46005. 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 31755 area. This will indicate a continued decline with a potential target below the 28505 area.
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