Bitcoin BTC/USD are trading at 3408 and continue to move as part of the decline. Cryptocurrency capitalization at the time of the publication of the forecast is $60 752 119 042. 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 3510. Where again we should expect a rebound and an attempt to continue the fall of the Bitcoin rate with the goal below the level of 3185.
Bitcoin Forecast and Analysis BTC/USD January 31, 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 3620 area. This will indicate a breakdown of the resistance area and the continued growth of the Bitcoin rate with a potential target at 4050. With the breakdown of the support area and the closure of the cryptocurrency quotes below 3275, a decline in the digital asset rate can be expected.
Bitcoin Forecast and Analysis BTC/USD January 31, 2019 suggests an attempt to test the resistance level near the area of 3510. And further, the cryptocurrency will continue to fall with a potential target of 3185. An additional signal in favor of Bitcoin depreciation will be the test of forming a 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 3620. This will indicate continued growth with a potential target above 4050.
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