BTC/USD are trading at 38347 and continue to move as part of the correction and the formation of the “Wedge” model. The capitalization of the Bitcoin cryptocurrency at the time of the publication of the forecast is $729,638,552,992. Moving averages indicate a short-term bullish trend for Bitcoin. Prices are again testing the area between the signal lines, which indicates pressure from buyers of Digital Gold and a potential continuation of the growth in the value of the asset already from current levels. As part of the forecast for the cryptocurrency rate for tomorrow, February 3, 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 39505 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 33605 area.
Bitcoin Forecast BTC/USD February 3, 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 “Wedge” model. Cancellation of the option of falling in the exchange rate and the cost of Bitcoin will be a strong increase in the value of the asset and a breakdown of the area of 41505. This will indicate a breakdown of the resistance area and continued growth of the Bitcoin rate with a potential target at 47405. The breakdown of the support area with the price fixing below the level of 35805 will confirm the fall in the asset price which will indicate a breakdown of the lower boundary of the “Wedge” model.
Bitcoin Forecast BTC/USD February 3, 2022 suggests an attempt to test the resistance level near the area of 39505. And further, the cryptocurrency will continue to fall with a potential target at 33605. 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 41505 area. This will indicate a continuation of the rise with a potential target above the 47405 area.
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