BTC/USD are trading at 42680 and continue to move as part of growth and have left the limits of the downward channel. The capitalization of the Bitcoin cryptocurrency at the time of the publication of the forecast is $811,682,792,548. Moving averages indicate a short-term bearish trend for Bitcoin. Prices have broken through the area between the signal lines up, 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 cryptocurrency exchange rate forecast for tomorrow, February 8, 2022, we should expect an attempt to develop an increase in the value of a digital asset and a test of the support level near the 37355 area. From where we should again expect a rebound upwards and an attempt to continue the growth of the Bitcoin rate with a target above the 51405 area.
Bitcoin Forecast BTC/USD February 8, 2022
An additional signal in favor of the rise in 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, which was broken up. Cancellation of the growth option for the exchange rate and the cost of Bitcoin will be a fall in the value of the asset and a breakdown of the area of 35505. This will indicate a breakdown of the support area and a continued fall in the Bitcoin exchange rate with a potential target at 31055. A confirmation of the rise in the price of the asset will be a breakdown of the resistance area with the price fixing above the level of 43205.
Bitcoin Forecast BTC/USD February 8, 2022 suggests an attempt to test the support level near the area of 37355. And further, the cryptocurrency will continue to grow with a potential target at the level of 51405. An additional signal in favor of the growth of the Bitcoin rate will be a test of the support line on the relative strength index (RSI). Cancellation of the cryptocurrency rise option will be a fall and a breakdown of the 35505 area. This will indicate a continued decline with a potential target below the 31055 area.
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