Bitcoin BTC/USD ends the trading week at the level of 3613 and continues to move as part of the decline and the formation of the «Triangle» model. Moving averages indicate a downward trend. At the moment, we should expect an attempt to grow and test the resistance area near the level of 3985. Where again we should expect a rebound and an attempt to continue the fall of the Bitcoin rate with a potential target below the level of 2250.
Bitcoin Forecast and Analysis BTC/USD January 21 — 25, 2019
In favor of reducing the BTC/USD quotes in the current trading week of January 21 — 25, 2019, a test of the broken trend line on the relative strength index (RSI) will come out. Cancellation of the Bitcoin drop option will be a strong growth and a breakdown of 4350. This will indicate a breakdown of the upper boundary of the «Triangle» model and continued growth of BTC/USD with a potential target above the level of 5500. A confirmation of the downward trend development will be a breakdown of the lower boundary of the model and closing of quotes below the level of 3250.
Bitcoin Forecast and Analysis BTC/USD January 21 — 25, 2019 implies an attempt at a resistance area near the level of 3985. Then, the continuation of the cryptocurrency decline to the area below the 2250 level. An additional signal in favor of the Bitcoin exchange rate is the resistance line test on the relative strength index (RSI). Canceling the option of falling cryptocurrency quotes Bitcoin will make a strong growth and the breakdown of the area of 4350. In this case, we should expect a continuation of the rise.
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