Bitcoin BTC/USD ends the trading week at 5247 and continues to move as part of the correction and the ascending channel. The digital asset is trading near the resistance level, a breakdown of this area will indicate continued strong growth. Moving averages indicate a downward trend. At the moment, we should expect an attempt to fall and a test of the support area near the level of 4850. Where again we should expect a rebound and an attempt to continue the growth of the Bitcoin rate with a potential target above the level of 7035.
Bitcoin Forecast and Analysis April 22 — 26, 2019
In the current trading week of April 22 — 26, 2019, a rising trend line test on the relative strength index (RSI) will be in favor of raising the BTC/USD quotes. The second signal will be a rebound from the lower boundary of the rising channel. The cancellation of the Bitcoin growth option will be a fall and a breakdown of the 4150 area. This will indicate a breakdown of the lower boundary of the channel and the continuation of the BTC/USD decline with a potential target below the level of 3350. A confirmation of the development of the upward trend will be a breakdown of the resistance area and closing of quotes above the 5850 level.
Bitcoin Forecast and Analysis April 22 — 26, 2019 suggests an attempt to support the area near the level of 4850. Then, the continued growth of cryptocurrency in the region above the level of 7035. An additional signal in favor of raising the Bitcoin rate will be the test of the support line on the relative strength index (RSI). The cancellation of the growth option of Bitcoin cryptocurrency quotes will be the fall and the breakdown of the 4150 area. In this case, we should expect a further decline.