BTC/USD are trading at 43014 and continue to move within a strong fall and a downward channel. The capitalization of the Bitcoin cryptocurrency at the time of the publication of the forecast is $817,335,193,650. Moving averages indicate a short-term bearish trend for Bitcoin. Prices went 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 the current levels. As part of the cryptocurrency rate forecast for tomorrow, January 7, 2022, we should expect an attempt to develop a correction in the value of a digital asset and a test of the resistance level near the 44205 area. Where can we expect a rebound down again and an attempt to continue the fall in the Bitcoin rate with a target below the 38675 area.
Bitcoin Forecast BTC/USD January 7, 2022
An additional signal in favor of a fall 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. Cancellation of the option to drop the Bitcoin rate and value will be a strong growth in the value of the asset and a breakdown of the 47705 area. This will indicate a breakdown of the resistance area and continued growth of the Bitcoin rate with a potential target at 55405. Confirmation of the fall in the price of the asset will be a breakdown of the support area with the price fixing below 41505.
Bitcoin Forecast BTC/USD January 7, 2022 suggests an attempt to test the resistance level near the 44205 area. And further, the cryptocurrency will continue to fall with a potential target at 38675. An additional signal in favor of the Bitcoin rate 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 47705 area. This will indicate a continued rise with a potential target above the 55405 area.
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