BTC/USD are traded at 57289 and continue to move as part of the correction and the formation of the ”Triangle” pattern. Bitcoin cryptocurrency capitalization at the time of the publication of the forecast is $ 1,098,564,838,645. Moving averages indicate a short-term bullish trend for Bitcoin. Prices are again pushing 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 7, 2021, we should expect an attempt to develop a correction in the value of a digital asset and a test of the support level near the 54205 area. Where again should we expect a rebound and an attempt to raise the Bitcoin rate with a target above the 70155 area.
Bitcoin Forecast and Analysis BTC/USD April 7, 2021
An additional signal in favor of the growth of 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 ”Triangle” pattern. Cancellation of the option to raise the rate and value of Bitcoin will be a fall in the value of the asset and a breakdown of the area of 50205. This will indicate a breakdown of the support area and a continuation of the fall in the Bitcoin rate with a potential target at the level of 47005. With a breakdown of the resistance area and closing of cryptocurrency quotes above the level of 64205, which will indicate a breakdown the upper border of the ”Triangle” model.
Bitcoin Forecast and Analysis BTC/USD April 7, 2021 suggests an attempt to test the support level near the 54205 area. And further, the cryptocurrency will continue to grow with a potential target at 70155. An additional signal in favor of the Bitcoin rate growth will be a test of the support line on the relative strength index (RSI). Cancellation of the cryptocurrency growth option will be a fall and a breakdown of the 50205 area. This will indicate a continued decline with a potential target below the 47005 area.
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