Bitcoin BTC/USD are trading at 5148 and continue to move as part of the correction and the ascending channel. Cryptocurrency capitalization at the time of the publication of the forecast is $91 385 697 873. Moving 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 4725. Where again we should expect a rebound and an attempt to continue the growth of the Bitcoin rate with the goal above the level of 6015.
Bitcoin Forecast and Analysis BTC/USD April 16, 2019
In favor of the growth of BTC/USD quotes, 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 lower boundary of the rising channel. Cancellation of the Bitcoin rate growth option will be a fall and a breakdown of the 4405 area. This will indicate a breakdown of the support area and the continuation of the fall of the Bitcoin rate with a potential target at 4055. With the breakdown of the resistance area and the closure of cryptocurrency quotes above the level of 5415, we should expect confirmation of growth of the digital asset rate.
Bitcoin Forecast and Analysis BTC/USD April 16, 2019 implies an attempt to test the support level near 4725. And further cryptocurrency growth with a potential target at the level of 6015. An additional signal in favor of raising the Bitcoin rate will be the test of the broken trend line on the relative strength index (RSI). Cancellation of the growth of cryptocurrency will be the fall and the breakdown of 4405. This will indicate a continued decline with a potential target below 4055.
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