Bitcoin BTC/USD are trading at the level of 5535 and continue to move as part of the growth and the beginning of the development of the «Triangle» model. Cryptocurrency capitalization at the time of the publication of the forecast is $98 053 580 121. Moving averages indicate the presence of an upward trend in Bitcoin. At the moment, we should expect an attempt to reduce and test the support level near the area of 5405. Where again we should expect a rebound and an attempt to continue the growth of the Bitcoin rate with the target above the level of 5775.
Bitcoin Forecast and Analysis BTC/USD April 24, 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 5200 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 4855. With the breakdown of the resistance area and the closure of cryptocurrency quotes above the level of 5655, we should expect confirmation of growth of the digital asset rate.
Bitcoin Forecast and Analysis BTC/USD April 24, 2019 implies an attempt to test the support level near the 5405 area. And further cryptocurrency growth continues with a potential target at 5775. 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 cryptocurrency growth option will be a fall and a breakdown of the 5200 region. This will indicate a further decline with a potential target below 4855.
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