Bitcoin Forecast and Analysis BTC/USD January 24, 2019


Bitcoin BTC/USD are trading at 3561 and continue to move as part of the correction. Cryptocurrency capitalization at the time of the publication of the forecast is $63 093 116 062. Moving averages indicate the presence of a bearish trend in Bitcoin. At the moment, we should expect an attempt of growth and a test of the resistance level near the area of ​​3665. 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 3270.

Bitcoin Forecast and Analysis BTC/USD January 24, 2019

In favor of falling BTC/USD quotes, a test of the downward trend line on the relative strength index (RSI) appears. The cancellation of the Bitcoin exchange rate option will be a strong growth and a breakdown of the 3880 area. This will indicate the breakdown of the resistance area and the continued growth of the Bitcoin rate with a potential target at 4065. With the breakdown of the support area and the closure of the cryptocurrency quotes below 3350, a decline in the digital asset rate can be expected.

Bitcoin Forecast and Analysis BTC/USD January 24, 2019

Bitcoin Forecast and Analysis BTC/USD January 24, 2019 suggests an attempt to test the resistance level near 3665. And then the cryptocurrency will continue to fall with a potential target of 3270. 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 ​​4065. This will indicate continued growth with a potential target above 4450.


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