Bitcoin BTC/USD ends the trading week at the level of 5174 and continues to move as part of the correction and the upward channel. The digital asset is trading near the resistance level, a breakdown of this area will indicate continued strong growth. Moving averages indicate a bearish trend. At the moment, we should expect an attempt to grow and test the resistance area near the level of 5780. Where again we should expect a rebound and an attempt to continue the fall of the Bitcoin rate with a potential target below 4350.
Bitcoin Forecast and Analysis April 29 — May 3, 2019
In favor of the fall of BTC/USD quotes in the current trading week of April 29 — May 3, 2019, a test of the rising trend line on the relative strength index (RSI) will be made. The second signal will be a rebound from the resistance level. The abolition of the Bitcoin fall option will be a strong growth and a breakdown of the 6150 area. This will indicate a breakdown of the upper boundary of the upward channel and continued growth of BTC/USD with a potential target above the level of 7250. A confirmation of the downward trend development will be the breakdown of the support area and closing of quotes below the level of 4950.
Bitcoin Forecast and Analysis April 29 — May 3, 2019 suggests an attempt at a resistance area near the level of 5780. Then, the continuation of the fall of cryptocurrency to an area below 4350. An additional signal in favor of depreciation of Bitcoin will be the resistance line test on the relative strength index (RSI). The abolition of the option of falling cryptocurrency quotes Bitcoin will make a strong growth and the breakdown of the area of 6150. In this case, we should expect a continuation of the rise.
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