BTC/USD quotes are trading at 85750 and continue to move within 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 a potential continuation of the development of a bullish impulse in the asset’s value from 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 87605 area. From where we should again expect a rebound downwards and an attempt to continue the fall of the Bitcoin rate with a target below the 78205 area.
Bitcoin Forecast for April 16, 2025
An additional signal in favor of a fall in 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 reversal pattern “Wedge”. The cancellation of the option of falling coin rate and Bitcoin price will be a strong growth of the asset price and a breakout of the 91665 area. This will indicate a breakout of the resistance area and continued growth of the Bitcoin rate with a potential target at 95685. The fall of the asset price will be confirmed by a breakout of the support area with the price fixing below 82665.
Bitcoin Forecast and Analysis for April 16, 2025 suggests an attempt to test the resistance level near the 87605 area. And then, the continuation of the fall of the cryptocurrency with a potential target at 78205. An additional signal in favor of the decline of the Bitcoin rate will be a test of the resistance line on the relative strength indicator. The cancellation of the option of falling digital currency will be a breakout of the 91665 area. This will indicate continued growth of the coin with a potential target above 95685.
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