BTC/USD are trading at 8605 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 $157 419 166 219. Moving averages indicate the presence of a short-term bullish trend for Bitcoin. As part of the cryptocurrency rate forecast for tomorrow, January 28, 2020, we should expect an attempt to drop the value of the digital asset and test the support level near the area of 8025. Where again we should expect a rebound and an attempt to continue the growth of the Bitcoin rate with the target above the area of 9705.
Bitcoin Forecast and Analysis BTC/USD January 28, 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 ascending channel. Cancellation of the option to raise the Bitcoin exchange rate will be a fall and a breakdown of the 7245 area. This will indicate a breakdown of the lower boundary of the model and a continued decline in the Bitcoin exchange rate with a potential target at 6705. With the breakdown of the resistance area and the cryptocurrency quotes closing above 9065, we should expect confirmation of a growth in the digital asset rate.
Bitcoin Forecast and Analysis BTC/USD January 28, 2020 suggests an attempt to test the support level near the area of 8025. And then, the cryptocurrency will continue to grow with a potential target of 9705. 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 7245. This will indicate a continued decline with a potential target below the area of 6705.
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