BTC/USD are traded at 31902 and continue to move as part of the correction and the ascending channel. The capitalization of the Bitcoin cryptocurrency at the time of the publication of the forecast is $ 597,178,356,897. Moving averages indicate a short-term bullish trend for Bitcoin. Prices are again testing the area between the lines, which indicates pressure from buyers of Digital Gold and a potential continuation of the asset’s value growth from the current levels. As part of the cryptocurrency rate forecast for tomorrow, January 6, 2021, we should expect an attempt to develop a slight correction in the value of a digital asset and a test of the support level near the 29405 area. Where again should we expect a rebound and an attempt to raise the Bitcoin rate with a target above the 38855 area.
Bitcoin Forecast and Analysis BTC/USD January 6, 2021
An additional signal in favor of the growth of BTC/USD quotes will be a test of the trend line on the relative strength index (RSI). The second signal will be a rebound from the lower border of the ascending channel. Cancellation of the growth rate and value of Bitcoin will be a fall in the value of the asset and a breakdown of the area of 27805. This will indicate a breakdown of the support area and a continuation of the fall in the Bitcoin rate with a potential target at the level of 25505. With the breakdown of the resistance area and closing of cryptocurrency quotes above the level of 36055.
Bitcoin Forecast and Analysis BTC/USD January 6, 2021 suggests an attempt to test the support level near the 29405 area. And further, the cryptocurrency will continue to grow with a potential target at 38855. An additional signal in favor of the Bitcoin rate rise will be a test of the support line on the relative strength index (RSI). Cancellation of the cryptocurrency growth option will be a fall and a breakdown of the 27805 area. This will indicate a continued decline with a potential target below the 25505 area.
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