Bitcoin BTC/USD are trading at the level of 3510 and continue to move as part of the decline. Cryptocurrency capitalization at the time of the publication of the forecast is $62 286 500 126. 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 3690. 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 3020.
Bitcoin Forecast and Analysis BTC/USD January 23, 2019
In favor of the fall in BTC/USD quotes, a test of the downward trend line on the relative strength index (RSI) appears. Cancellation of the Bitcoin exchange rate decline will be a strong growth and breakdown of the 3880 area. This will indicate breakdown of the upper downward channel and continued growth of the Bitcoin rate with the potential target at 4350. With the breakdown of the support area and closing of cryptocurrency quotes below the digital asset rate.
Bitcoin Forecast and Analysis BTC/USD January 23, 2019 implies an attempt to test the resistance level near 3690. And then the cryptocurrency will continue to fall with a potential target of 3020. 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 the growth and breakdown of the area of 3880. This will indicate continued growth with a potential target above 4350.