Bitcoin BTC/USD are trading at 4990 and continue to move as part of the correction and the formation of the bullish wave «Wolfe Wave». Cryptocurrency capitalization at the time of the publication of the forecast is $87 542 497 998. 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 4705. 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 5405.
Bitcoin Forecast and Analysis BTC/USD April 5, 2019
In favor of the growth of BTC/USD quotes, a test of the downward trend line on the relative strength index (RSI) will be made. The second signal will be a rebound from the lower boundary of the model «Wolfe Wave». Cancellation of the Bitcoin rate growth option will be a fall and a breakdown of 4405. This will indicate that the support area is broken down and Bitcoin continues to fall with a potential target at 3825. With the breakdown of the resistance area and the closure of cryptocurrency quotes above 5175, we should expect confirmation of the growth of the digital asset rate.
Bitcoin Forecast and Analysis BTC/USD April 5, 2019 implies an attempt to test the support level near the area of 4705. And further cryptocurrency growth with a potential target at the level of 5405. 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 4405 area. This will indicate a further decline with a potential target below 3825.
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