Bitcoin BTC/USD ends the trading week at the level of 60698, continues to move as part of the growth and formation of the “Wedge” pattern. Moving averages indicate a bullish trend. Prices went up from the area between the signal lines, which indicates pressure from 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 rise and test the resistance area near the level of 65505. Where can we expect a rebound again and the continuation of the fall in the Bitcoin rate with a potential target below the level of 65505.
Bitcoin Forecast and Analysis April 19 — 23, 2021
An additional signal in favor of a fall in BTC/USD quotes in the current trading week April 19 — 23, 2021 will be a rebound from the upper border of the Wedge model. The second signal will be a rebound from the resistance line on the indicator relative to the strength (RSI). Cancellation of the Bitcoin fall option will be a strong growth and a breakdown of the 69555 area. This will indicate a breakdown of the resistance area and a continued rise in BTC/USD quotes with a potential target above the level of 85005. Confirmation of the development of a downward movement will be a breakdown of the support area and closing of quotes below the level of 53405.
Bitcoin Forecast and Analysis April 19 — 23, 2021 suggests an attempt at a resistance area near the level of 65505. Then, the cryptocurrency will continue to fall to the area below the level of 75505. An additional signal in favor of a decline in the Bitcoin rate in the current trading week will be a test of the resistance line on the relative strength. Cancellation of the option of falling Bitcoin cryptocurrency quotes will be a strong growth and a breakdown of the 69555 area. In this case, we should expect a continuation of the rise with the target at 85005.
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