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 $59 970 813 611. Moving averages indicate the presence of 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 3490. Where again we should expect a rebound and an attempt to continue the fall of the Bitcoin rate with a target below the level of 3135.
Bitcoin Forecast and Analysis BTC/USD January 30, 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 3650 area. This will indicate a 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 cryptocurrency quotes below 3245, a decline in the digital asset rate can be expected.
Bitcoin Forecast and Analysis BTC/USD January 30, 2019 suggests an attempt to test the resistance level near the area of 3490. And further, the cryptocurrency will continue to fall with a potential target at the level of 3135. An additional signal in favor of Bitcoin depreciation will be the test of formation of the reversal model on the relative strength index (RSI). Cancellation of the option of falling cryptocurrency will be the growth and breakdown of the area of 3650. This will indicate continued growth with a potential target above 4155.
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