Bitcoin BTC/USD are trading at 5305 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 $94 210 096 709. Moving averages indicate a Bitcoin uptrend. At the moment, we should expect an attempt to reduce and test the support level near the area of 5185. 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 5985.
Bitcoin Forecast and Analysis BTC/USD April 23, 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 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 4355. With the breakdown of the resistance area and the closure of cryptocurrency quotes above the level of 5545, we should expect confirmation of the growth of the digital asset rate.
Bitcoin Forecast and Analysis BTC/USD April 23, 2019 implies an attempt to test the support level near 5185. And further cryptocurrency growth continues with a potential target at 5985. 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 4355.
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