BTC/USD quotes are trading at 84554 and continue to move within the framework of the development of a bullish correction and the formation of a reversal pattern “Wedge”. Moving averages indicate the presence of a short-term bullish trend for Bitcoin. Prices have broken through the area between the signal lines upwards, which indicates pressure from buyers of “Digital Gold” and the potential continuation of the development of a bullish impulse in the asset value from the current levels. As part of the cryptocurrency rate forecast for tomorrow, April 16, 2025, we should expect an attempt to develop an increase in the value of the digital asset and a test of the resistance level near the 86865 area. From where we should again expect a downward rebound and an attempt to continue the fall of the Bitcoin rate with a target below the 78065 area.
Bitcoin Forecast and Analysis for April 16, 2025
An additional signal in favor of the fall of BTC/USD quotes will be a test of the resistance line on the relative strength indicator. The second signal in favor of this option will be a rebound from the upper border of the “Wedge” reversal pattern. The cancellation of the option of a fall in the coin rate and the cost of Bitcoin will be a strong increase in the value of the asset and a breakout of the 90505 area. This will indicate a breakout of the resistance area and continued growth of the Bitcoin rate with a potential target at 95605. Confirmation of the fall in the asset price will be a breakout of the support area with the price fixing below the 74055 mark.
Bitcoin Forecast and Analysis for April 16, 2025 suggests an attempt to test the resistance level near the 86865 area. And then, a continuation of the fall of the cryptocurrency with a potential target at the level of 78065. An additional signal in favor of a decrease in the Bitcoin rate will be a test of the resistance line on the relative strength indicator. The cancellation of the option of a fall in the digital currency will be a breakout of the 90505 area. This will indicate continued growth of the coin with a potential target above the 95605 mark.
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