BTC/USD are traded at 32034 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 $ 586,241,991,208. Moving averages indicate a short-term bullish trend for Bitcoin. Prices are testing the area between the lines again, which indicates pressure from buyers of Digital Gold and a potential continuation of the asset’s value growth from the current levels. As part of the cryptocurrency rate forecast for tomorrow, January 22, 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 30305 area. Where again should we expect a rebound and an attempt to increase the Bitcoin rate with a target above the 45605 area.
Bitcoin Forecast and Analysis BTC/USD January 22, 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 29105. This will indicate a breakdown of the support area and a continued decline in the Bitcoin exchange rate with a potential target at 25605. With the breakdown of the resistance area and closing of cryptocurrency quotes above the level of 38655, 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 22, 2021 suggests an attempt to test the support level near the 30305 area. And further, the cryptocurrency will continue to grow with a potential target at 45605. 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 29105 area. This will indicate a continued decline with a potential target below the 25605 area.
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