BTC/USD are trading at 37235 and continue to move as part of the fall and the downward channel. The capitalization of the Bitcoin cryptocurrency at the time of the publication of the forecast is $701,990,003,100. Moving averages indicate a short-term bearish trend for Bitcoin. Prices have gone down from the area between the signal lines, which indicates pressure from the sellers of ”Digital Gold” and a potential continuation of the fall in the value of the asset already from current levels. As part of the cryptocurrency rate forecast for tomorrow, February 1, 2022, we should expect an attempt to develop an increase in the value of a digital asset and a test of the resistance level near the 39805 area. From where we should again expect a rebound down and an attempt to continue the fall of the Bitcoin rate with a target below the 23305 area.
Bitcoin Forecast BTC/USD February 1, 2022
An additional signal in favor of falling BTC/USD quotes will be a test of the trend line on the relative strength index (RSI). The second signal in favor of this option will be a rebound from the upper border of the descending channel. Cancellation of the option of falling in the exchange rate and the value of Bitcoin will be a strong increase in the value of the asset and a breakdown of the area of 46505. This will indicate a breakdown of the resistance area and continued growth of the Bitcoin rate with a potential target at 52005. The breakdown of the support area with the price fixing below the level of 32505 will confirm the fall in the price of the asset.
Bitcoin Forecast BTC/USD February 1, 2022 suggests an attempt to test the resistance level near the area of 39805. And further, the cryptocurrency will continue to fall with a potential target at the level of 23305. An additional signal in favor of the Bitcoin price decline will be a test of the resistance line on the relative strength index (RSI). Cancellation of the cryptocurrency fall option will be a strong growth and a breakdown of the 46505 area. This will indicate a continuation of the rise with a potential target above the 52005 area.
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