Bitcoin BTC/USD are trading at 4990 and continue to move as part of the correction and the formation of the «Bullish Triangle» model. Cryptocurrency capitalization at the time of the publication of the forecast is $91 857 807 960 Sliding averages indicate the presence of an upward trend in Bitcoin. At the moment, we should expect an attempt to fall and a test of the support level near the area of 5095. Where again we should expect a rebound and an attempt to continue the growth of the Bitcoin rate with the target above the level of 5725.
Bitcoin Forecast and Analysis BTC/USD April 10, 2019
In favor of the growth of BTC/USD quotes, a test of the downward trend line on the relative strength index (RSI) will be made. The second signal will be a rebound from the lower border of the «Bullish Triangle» model. Cancellation of the Bitcoin exchange rate growth option will be a fall and a breakdown of the 4855 area. This will indicate a breakdown of the support area and the continued decline of the Bitcoin rate with a potential target at 4265. With the breakdown of the resistance area and the closure of cryptocurrency quotes above the level of 5485, you should expect testing the model «Bullish Triangle».
Bitcoin Forecast and Analysis BTC/USD April 10, 2019 implies an attempt to test the support level near 5095. And then the cryptocurrency will continue to grow with a potential target at 5725. An additional signal in favor of raising the Bitcoin rate will be a test of the broken trend line on the relative strength index (RSI). Cancellation of the option of cryptocurrency growth will fall and the breakdown of the area 4855. This will indicate a continued decline with a potential target below 4265.
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