Bitcoin BTC/USD are trading at 4021 and continue to move as part of growth. Cryptocurrency capitalization at the time of the publication of the forecast is $71 218 897 498. Moving averages indicate a downward trend in Bitcoin. At the moment, we should expect an attempt to reduce and test the support level near the area of 3850. Where again we should expect a rebound and an attempt to continue the growth of the Bitcoin rate with a target above the level of 4750.
Bitcoin forecast & technical analysis January 8, 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 upper limit of the model «Triangle». Cancellation of the Bitcoin exchange rate growth option will also lead to the breakdown of the 3550 area. This will indicate the breakdown of the support area and the continuation of the fall of the Bitcoin rate with a potential target at 2850. With the breakdown of the resistance area and the closure of cryptocurrency quotes above the 4150, you should expect confirmation of growth of the digital asset rate.
Bitcoin forecast & technical analysis January 8, 2019 suggests an attempt to test the support level near 3850. And then the cryptocurrency will continue to grow with a potential target of 4750. An additional signal in favor of the Bitcoin exchange rate is the 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 3550.