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 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.