Bitcoin Forecast and Analysis BTC/USD January 8, 2020

BTC/USD are trading at 7844 and continue to move as part of the growth and bullish channel. Bitcoin cryptocurrency capitalization at the time of the publication of the forecast is $142 873 154 408. Moving averages indicate the presence of a short-term bearish trend for Bitcoin. Prices broke through the area between the signal lines, which indicates pressure from buyers. As part of the cryptocurrency rate forecast for tomorrow, January 8, 2020, we should expect an attempt to drop the value of the digital asset and test the support level near the area of ​​7665. Where again we should expect a rebound and an attempt to continue the growth of the Bitcoin rate with a target above the area of ​​8625.

Bitcoin Forecast and Analysis BTC/USD January 8, 2020

An additional signal in favor of the growth of BTC/USD quotes will be a test of the upward trend line 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 7255 area. This will indicate a breakdown of the lower border of the channel and a continuation of the fall of the Bitcoin exchange rate with a potential target at 6405. With the breakdown of the resistance area and closing of cryptocurrency quotes above the level of 8065, we should expect confirmation of a growth in the digital asset rate.

Bitcoin Forecast and Analysis BTC/USD January 8, 2020 implies an attempt to test the support level near the area of ​​7665. And then, the cryptocurrency will continue to grow with a potential target at 8625. 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 ​​7255. This will indicate a continued decline with a potential target below the area of ​​6405.

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