Bitcoin BTC/USD are trading at 3832 and continue to move as part of the correction. Cryptocurrency capitalization at the time of the publication of the forecast is $67 861 863 459. Moving averages indicate a bearish trend in Bitcoin. At the moment, we should expect an attempt to reduce and test the support level near the area of 3590. Where again we should expect a rebound and an attempt to continue the growth of the Bitcoin rate with a target above 4805.
Bitcoin forecast & technical analysis January 3, 2019
In favor of the growth of BTC/USD quotes, a test of the uptrend trend on the relative strength index (RSI) will be made. And also test the lower boundary of the model «Triangle». Cancellation of the Bitcoin exchange rate growth option will be a fall and a breakdown of the 3250 area. This will indicate a breakdown of the support area and the continuation of the Bitcoin exchange rate drop with a potential target at 2850. With the breakdown of the upper limit of the «Triangle» model and the closure of cryptocurrency quotes above the level of 4050, we should expect confirmation of the growth rate digital asset.
Bitcoin forecast & technical analysis January 3, 2019 suggests an attempt to test the support level near 3590. And then the cryptocurrency growth continues with a potential target at 4805. An additional signal in favor of the Bitcoin exchange rate growth will be a test of the trend line on the relative strength index (RSI). Cancellation of the growth option cryptocurrency will fall and the breakdown of the area of 3250.