Bitcoin BTC/USD are trading at 3827 and continue to move as part of the correction. Cryptocurrency capitalization at the time of the publication of the forecast is $67 879 417 106. Moving averages indicate the presence of a bearish trend in Bitcoin. At the moment, we should expect an attempt to reduce and test the support level near the area of 3650. Where again we should expect a rebound and an attempt to continue the growth of the Bitcoin rate with the goal above the level of 5010.
Bitcoin forecast & technical analysis January 4, 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 growth rate option will drop and breakdown of the 3350 area. This will indicate the breakdown of the support area and the continuation of the Bitcoin exchange rate decline 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 4, 2019 suggests an attempt to test the support level near 3650. And then the cryptocurrency will continue to grow with a potential target of 5010. An additional signal in favor of the Bitcoin rate growth will be a test of the trend line on the relative strength index (RSI). Cancellation of the growth of cryptocurrency will be the fall and the breakdown of the area of 3350.