Bitcoin Forecast and Analysis BTC/USD January 29, 2020


BTC/USD are trading at 8997 and continue to move as part of the correction and the upward channel. Bitcoin cryptocurrency capitalization at the time of the publication of the forecast is $165 867 267 211. Moving averages indicate the presence of a short-term bullish trend for Bitcoin. As part of the cryptocurrency rate forecast for tomorrow, January 29, 2020, we should expect an attempt to drop the value of the digital asset and test the support level near the area of ​​8465. 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 ​​9925.

Bitcoin Forecast and Analysis BTC/USD January 29, 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 area of ​​7805. This will indicate a breakdown of the lower boundary of the model and a continuation of the fall of the Bitcoin rate with a potential target at 7025. With the breakdown of the resistance area and closing of cryptocurrency quotes above 9385, we should expect confirmation of a growth in the rate of the digital asset.

Bitcoin Forecast and Analysis BTC/USD January 29, 2020

Bitcoin Forecast and Analysis BTC/USD January 29, 2020 implies an attempt to test the support level near the area of ​​8465. And then, the cryptocurrency will continue to grow with a potential target at 9925. 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 ​​7805. This will indicate a continued decline with a potential target below the area of ​​7025.


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