BTC/USD are trading at 30668 and continue to move as part of the correction and the formation of a bullish “Wolfe Wave.” Cryptocurrency capitalization at the time of the publication of the forecast is $565,332,553,676. Moving averages indicate a short-term bearish trend for Bitcoin. Prices broke the area between the down lines, which indicates pressure from the sellers of “Digital Gold” and the potential continuation of the fall in the value of the asset already from the current levels. As part of the forecast of the cryptocurrency rate for tomorrow, January 28, 2021, we should expect an attempt to develop a correction in the value of a digital asset and test the support level near the 28105 area. we should expect a rebound and an attempt to grow the Bitcoin rate with a target above the 36205 area.
Bitcoin Forecast and Analysis BTC/USD January 28, 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 upper border of the descending channel. 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 25005. This will indicate a breakdown of the support area and a continued decline in the Bitcoin exchange rate with a potential target at 22305. With the breakdown of the resistance area and closing of cryptocurrency quotes above the level of 33095.
Bitcoin Forecast and Analysis BTC/USD January 28, 2021 suggests an attempt to test the support level near the 28105 area. And further, the cryptocurrency will continue to grow with a potential target at 36205. 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 area of 25005. This will indicate a continued decline with a potential target below the area of 22305.
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