BTC/USD are trading at 54508 and continue to move as part of the decline and the beginning of the development of the large ”Wedge” pattern. Bitcoin cryptocurrency capitalization at the time of the publication of the forecast is $1,018,972,145,752. Moving averages indicate a short-term bullish trend for Bitcoin. Prices broke through the area between the signal lines downward, which indicates pressure from the sellers of “Digital Gold” and a potential continuation of the fall in the value of the asset from the current levels. As part of the cryptocurrency rate forecast for tomorrow, April 23, 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 58255 area. Where again should we expect a rebound and an attempt to fall in the Bitcoin rate with a target below the 43525 area.
Bitcoin Forecast and Analysis BTC/USD April 23, 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 area of 63165. This will indicate a breakdown of the resistance area and a continued rise in the Bitcoin exchange rate with a potential target at 69025. With the breakdown of the support area and closing of cryptocurrency quotes below 48605.
Bitcoin Forecast and Analysis BTC/USD April 23, 2021 suggests an attempt to test the resistance level near the 58255 area. And further, the cryptocurrency will continue to fall with a potential target at 43525. 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 63165 area. This will indicate a continued rise with a potential target above the 69025 area.
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