Bitcoin BTC/USD ends the trading week at 4951 and continues to move as part of growth. Moving averages indicate a bearish trend. At the moment, we should expect an attempt to fall and a test of the support area near the level of 4450. 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 6450.
Bitcoin Forecast and Analysis April 8 — 12, 2019
In the current trading week of April 8 — 12, 2019, a test of the rising trend line 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 upper boundary of the bullish channel. Cancellation of the Bitcoin growth option will be a fall and a breakdown of the area of 3845. This will indicate a breakdown of the upper boundary of the channel and the continuation of the fall of BTC/USD with a potential target below the level of 2650. Confirmation of the development of the upward trend will be a breakdown of the resistance area and closing of quotes above the 4200 level.
Bitcoin Forecast and Analysis April 8 — 12, 2019 implies an attempt at the support area near the level of 4450. Then, the continued growth of cryptocurrency to the area above 6450. 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 area of 3845. In this case, we should expect a further decline.