Bitcoin BTC/USD ends the trading week at 23944 and continues to move within the strong growth and upward channel. Moving averages indicate a bullish trend. Prices went up from the area between the signal lines, which indicates pressure from the buyers of the asset and the potential continued growth of the asset’s quotes. At the moment, we should expect an attempt to develop a correction and test the support area near the level of 21605. Where can we expect a rebound and continued growth in the Bitcoin exchange rate with a potential target above the level of 28505.
Bitcoin Forecast December 28, 2020 — January 1, 2021
An additional signal in favor of raising the BTC/USD quotes in the current trading week December 28, 2020 — January 1, 2021 will be a rebound from the lower border of the ascending channel. The second signal will be a rebound from the support line on the RSI indicator. Cancellation of the Bitcoin growth option will be a fall and a breakdown of the area of 17505. 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 13505. Confirmation of the development of an upward trend will be a breakdown of the resistance area and closing of quotations above the level of 25605.
Bitcoin Forecast December 28, 2020 — January 1, 2021 assumes an attempt at a support area near the level of 21605. Then, the cryptocurrency will continue to grow to the area above the level of 28505. An additional signal in favor of an increase in the Bitcoin rate this trading week will be a test of the support line on the indicator relative strength. Cancellation of the growth option for Bitcoin cryptocurrency quotes will be a fall and a breakdown of the 17505 area. In this case, we should expect a continued decline with a target at 14605.