Bitcoin BTC/USD ends the trading week at 19082, continues to move as part of the growth and left the descending channel. Moving averages indicate a bearish trend. Prices are again testing the area between the signal lines, which indicates pressure from sellers of the asset and a potential continuation of the fall in asset quotes. At the moment, we should expect an attempt to develop a bullish correction in the price of the coin and a test of the support area near the level of 14605. From where we should again expect a rebound upwards and continued growth in the Bitcoin rate with a potential target above the level of 28505.
Bitcoin Forecast January 16 — 20, 2023
An additional signal in favor of the growth of BTC/USD quotes in the current trading week January 16 — 20, 2023 will be a rebound from the upper border of the descending channel, which was broken through by buyers. The second signal will be a rebound from the support line on the relative strength index (RSI). Cancellation of the Bitcoin growth option will be a fall and a breakdown of the 13605 area. This will indicate a breakdown of the support area and a continued fall in BTC/USD quotes with a potential target below the level of 9605. A confirmation of the development of a bullish movement will be a breakdown of the resistance area and closing of quotes above the level of 21305.
Bitcoin Forecast January 16 — 20, 2023 suggests an attempt at the support area near the level of 14605. Then the cryptocurrency will continue to rise to the area above the level of 28505. An additional signal in favor of the rise 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 growth option for Bitcoin cryptocurrency quotes will be a fall and a breakdown of the area of 13605. In this case, we should expect a continuation of the decline with the target at the level of 9605.