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Bitcoin BTC/USD Forecast and Analysis February 2, 2021

Bitcoin quotes at the time of writing the forecast are trading at $ 33,870. The BTC / USD price is moving within the descending channel formed in early January. The upper border of the channel, as well as the resistance level, is the area around $ 38,000. The lower border of the channel is below $ 27,000.

The Ichimoku indicator gives conflicting signals. On the one hand, Bitcoin quotes are above the Ichimoku cloud, on the other hand, the indicator signal lines are deployed to sell Bitcoin.

The support level for the cryptocurrency rate is the psychologically important $ 32,000 mark. The resistance level is fixed at $ 34,700.

Bitcoin BTC/USD Forecast and Analysis February 2, 2021

Earlier forecasts have already mentioned the target for Bitcoin - $ 26,000. Currently, this goal is at the lower border of the channel, and has become quite achievable based on the technical analysis of Bitcoin. In case of breaking through the support level and fixing the cryptocurrency quotes below $ 32,000, we expect an acceleration in the fall of the Bitcoin exchange rate, in order to reach $ 26,000.

It is also possible to break through the resistance level and increase digital gold to the area of ​​36 600.

Thus, the Bitcoin exchange rate forecast for tomorrow, February 2, suggests an attempt to test the resistance level, a rebound and a continuation of the medium-term downward trend for Bitcoin.


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