BTC/USD are trading at 34856 and continue to move as part of the growth and the ascending channel. The capitalization of the Bitcoin cryptocurrency at the time of the publication of the forecast is $ 641,721,293,386. Moving averages indicate a short-term bullish trend for Bitcoin. Prices have gone up again from 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 7, 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 33405 area. Where can we expect a rebound and an attempt to raise the Bitcoin rate with a target above the 38105 area.
Bitcoin Forecast and Analysis BTC/USD January 7, 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 32205 area. This will indicate a breakdown of the support area and a continued fall in the Bitcoin rate with a potential target at 29505. With the breakdown of the resistance area and closing of cryptocurrency quotes above the level of 36095.
Bitcoin Forecast and Analysis BTC/USD January 7, 2021 suggests an attempt to test the support level near the 33405 area. And further, the cryptocurrency will continue to grow with a potential target at 38105. 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 growth option for cryptocurrency will be a fall and a breakdown of the 32205 area. This will indicate a continued decline with a potential target below the 29505 area.
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