Bitcoin BTC/USD are trading at 5225 and continue to move as part of the correction and the formation of the «Triangle» model. Cryptocurrency capitalization at the time of the publication of the forecast is $92 551 654 554. 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 5045. 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 5735.
Bitcoin Forecast and Analysis BTC/USD April 18, 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 «Triangle» model. Cancellation of the Bitcoin exchange rate growth option will be a fall and a breakdown of the 4805 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 4255. With the breakdown of the resistance area and the closure of cryptocurrency quotes above the 5405 level, we should expect confirmation of the growth of the digital asset rate.
Bitcoin Forecast and Analysis BTC/USD April 18, 2019 implies an attempt to test the support level near 5045. And further cryptocurrency growth continues with a potential target at 5735. 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 region of 4805. This will indicate a continued decline with a potential target below 4255.
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