Bitcoin BTC/USD are trading at 5069 and continue to move as part of the correction and the bullish channel. Cryptocurrency capitalization at the time of the publication of the forecast is $89 989 370 503. 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 4745. Where again we should expect a rebound and an attempt to continue the growth of the Bitcoin rate with a target above the level of 5800.
Bitcoin Forecast and Analysis BTC/USD April 17, 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 4455 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 17, 2019 suggests an attempt to test the support level near 4745. And further cryptocurrency growth continues with a potential target at 5800. 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 4455. This will indicate a continuation of the decline with a potential target below 4055.
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