BTC/USD are traded at 56775 and continue to move as part of the fall and the beginning of the development of the “Wedge” reversal pattern. The capitalization of the Bitcoin cryptocurrency at the time of the publication of the forecast is $ 1,053,847,195,500. Moving averages indicate a short-term bullish trend for Bitcoin. Prices push off from the area between the signal lines, which indicates pressure from buyers of “Digital Gold” and a potential continuation of the growth of the asset value from the current levels. As part of the cryptocurrency rate forecast for tomorrow, April 20, 2021, we should expect an attempt to develop a rise in the value of a digital asset and a test of the resistance level near the 50655 area. Where again should we expect a rebound and an attempt to fall in the Bitcoin rate with a target below the 43055 area.
Bitcoin Forecast and Analysis BTC/USD April 20, 2021
An additional signal in favor of a fall in BTC/USD quotes will be a test of the trend line on the relative strength index (RSI). The second signal will be a rebound from the lower border of the Wedge pattern. Cancellation of the option to drop the Bitcoin rate and value will be a strong growth in the value of the asset and a breakdown of the 66055 area. This will indicate a breakdown of the resistance area and a continued rise in the Bitcoin exchange rate with a potential target at 69055. With the breakdown of the support area and closing of cryptocurrency quotes below 48055.
Bitcoin Forecast and Analysis BTC/USD April 20, 2021 suggests an attempt to test the resistance level near the 50655 area. And further, the cryptocurrency will continue to fall with a potential target at 43055. An additional signal in favor of the Bitcoin rate decline will be a test of the resistance line on the relative strength index (RSI). Cancellation of the cryptocurrency fall option will be a strong growth and a breakdown of the 66055 area. This will indicate a continued rise with a potential target above the 69055 area.
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