Bitcoin Forecast and Analysis BTC/USD January 29, 2019


Bitcoin BTC/USD are trading at 3407 and continue to move as part of the fall. Cryptocurrency capitalization at the time of the publication of the forecast is $60 584 132 240. Moving averages indicate 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 ​​3500. Where again we should expect a rebound and an attempt to continue the fall of the Bitcoin exchange rate with the goal below the level of 3055.

Bitcoin Forecast and Analysis BTC/USD January 29, 2019

In favor of the fall in 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 3670 area. This will indicate the breakdown of the resistance area and the continued growth of the Bitcoin rate with a potential target at 4155. With the breakdown of the support area and the closure of the cryptocurrency quotes below 3250, a decline in the digital asset rate can be expected.

Bitcoin Forecast and Analysis BTC/USD January 29, 2019

Bitcoin Forecast and Analysis BTC/USD January 29, 2019 implies an attempt to test the resistance level near the 3500 area. And further, the cryptocurrency will continue to fall with a potential target at 3055. An additional signal in favor of Bitcoin depreciation will be the test of forming a reversal pattern on the relative strength index (RSI). Cancellation of the option of falling cryptocurrency will be the growth and breakdown of the area of ​​3670. This will indicate continued growth with a potential target above 4155.


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