Bitcoin BTC/USD ends the trading week at the level of 59614, continues to move in the framework of the growth and the ascending channel. Moving averages indicate a bullish trend. Prices went up from the area between the signal lines, which indicates pressure from the 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 correction and a test of the support area near the level of 55605. Where can we again expect a rebound and continued growth in the Bitcoin exchange rate with a potential target above the level of 75405.
Bitcoin Forecast and Analysis April 5 — 9, 2021
An additional signal in favor of raising the BTC/USD quotes in the current trading week April 5 — 9, 2021 will be a rebound from the lower border of the ascending channel. The second signal will be a rebound from the support line on the indicator relative to the strength (RSI). Cancellation of the Bitcoin growth option will be a fall and a breakdown of the 47505 area. This will indicate a breakdown of the support area and a continued fall in BTC/USD quotes with a potential target below 38605. Confirmation of the development of an upward trend will be a breakdown of the resistance area and closing of quotations above the level of 63505.
Bitcoin Forecast and Analysis April 5 — 9, 2021 suggests an attempt at a support area near the level of 55605. Then, the cryptocurrency will continue to grow to the area above the level of 75405. An additional signal in favor of an increase in the Bitcoin rate in the current trading week will be a test of the support line on the relative strength. Cancellation of the growth option for Bitcoin cryptocurrency quotes will be a fall and a breakdown of the 47505 area. In this case, we should expect a continued decline with a target at 38605.
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