Bitcoin BTC/USD are trading at 4990 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 $92 288 383 358. 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 5050. 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 5705.
Bitcoin Forecast and Analysis BTC/USD April 9, 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 «Triangle» model. Cancellation of the Bitcoin rate growth option will be a fall and a breakdown of 4785. This will indicate a breakdown of the support area and the continuation of the fall of the Bitcoin rate with a potential target at 3965. With the breakdown of the resistance area and the closure of cryptocurrency quotes above the 5475, you should expect working out the model «Triangle».
Bitcoin Forecast and Analysis BTC/USD April 9, 2019 suggests an attempt to test the support level near 5050. And further cryptocurrency growth continues with a potential target at 5705. 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 growth of cryptocurrency will be the fall and the breakdown of the area of 4785. This will indicate a continued decline with a potential target below 3965.
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