BTC/USD are trading at 8639 and continue to move as part of the correction and the bullish channel. Bitcoin cryptocurrency capitalization at the time of the publication of the forecast is $157 369 277 087. Moving averages indicate the presence of a short-term bullish trend for Bitcoin. As part of the cryptocurrency rate forecast for tomorrow, January 23, 2020, one should expect an attempt to drop the value of the digital asset and test the support level near the area of 8055. Where again we should expect a rebound and an attempt to continue the growth of the Bitcoin rate with a target above the area of 10305.
Bitcoin Forecast and Analysis BTC/USD January 23, 2020
An additional signal in favor of the growth of BTC/USD quotes will be an uptrend test on the relative strength index (RSI). The second signal will be a rebound from the lower boundary of the bullish channel. Cancellation of the option to raise the Bitcoin rate will be a fall and a breakdown of the area of 7205. This will indicate a breakdown of the lower boundary of the model and a continuation of the fall of the Bitcoin rate with a potential target at 6705. With the breakdown of the resistance area and closing of cryptocurrency quotes above 9385, we should expect confirmation of a growth in the rate of the digital asset.
Bitcoin Forecast and Analysis BTC/USD January 23, 2020 suggests an attempt to test the support level near the area of 8055. And then, the cryptocurrency will continue to grow with a potential target at 10305. An additional signal in favor of the Bitcoin appreciation will be the support line test on the relative strength index (RSI). Cancellation of the cryptocurrency growth option will be a fall and a breakdown of the area of 7205. This will indicate a continued decline with a potential target below the area of 6705.
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