BTC/USD are trading at 8379 and continue to move as part of the growth and development of the «Head and Shoulders» reversal pattern. Bitcoin cryptocurrency capitalization at the time of the publication of the forecast is $151 326 347 781. Moving averages indicate the presence of a short-term bullish trend for Bitcoin. As part of the cryptocurrency rate forecast for tomorrow, January 9, 2020, we should expect an attempt to drop the value of the digital asset and test the support level near the area of 7645. 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 10275.
Bitcoin Forecast and Analysis BTC/USD January 9, 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 «Neck» line of the «Head and Shoulders» reversal pattern. Cancellation of the option to raise the Bitcoin exchange rate will be a fall and a breakdown of the 6755 area. This will indicate a breakdown of the lower border of the channel and a continuation of the fall of the Bitcoin rate with a potential target at 6025. With the breakdown of the resistance area and closing of cryptocurrency quotes above 9055, we should expect confirmation of a growth in the digital asset rate.
Bitcoin Forecast and Analysis BTC/USD January 9, 2020 suggests an attempt to test the support level near the area of 7645. And then, the cryptocurrency will continue to grow with a potential target at 10275. 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 6755 area. This will indicate a continued decline with a potential target below the 6025 area.
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