Bitcoin BTC/USD ends the trading week at 41908, continues to move within the correction and the bullish channel. Moving averages indicate a bullish trend. Prices broke through the area between the signal lines downward, which indicates pressure from the sellers of the asset and a potential continuation of the fall in the asset’s quotes. At the moment, we should expect an attempt to develop a rise in the price of the coin and test the resistance area near the level of 49705. Where can we expect a rebound down again and the continuation of the fall in the Bitcoin rate with a potential target below the level of 26055.
Bitcoin Weekly Forecast January 10 — 14, 2022
An additional signal in favor of a decrease in BTC/USD quotes in the current trading week January 10 — 14, 2022 will be a rebound from the lower border of the bullish channel. The second signal will be a rebound from the resistance line on the relative strength index (RSI). Cancellation of the Bitcoin fall option will be a strong growth and a breakdown of the area of 55055. This will indicate a breakdown of the resistance area and a continued rise in BTC/USD quotes with a potential target above the level of 72505. Confirmation of the development of a downward movement will be a breakdown of the support area and closing of quotations below the level of 38505, which will indicate breakdown of the lower border of the bullish channel.
Bitcoin Weekly Forecast January 10 — 14, 2022 suggests an attempt at a resistance area near the level of 49705. Then, the cryptocurrency will continue to fall to the area below the level of 26055. An additional signal in favor of a decline in the Bitcoin rate in the current trading week will be a test of the trend line on the relative strength index (RSI). Cancellation of the option of falling Bitcoin cryptocurrency quotes will be a strong growth and a breakdown of the 55055 area. In this case, we should expect a continuation of the rise with the target at 72505.
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