Bitcoin BTC/USD are trading at 3795 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 $67 908 796 762. Moving averages indicate the presence of a bearish trend in Bitcoin. At the moment, we should expect an attempt of growth and a test of the resistance level near the area of 3810. Where again we should expect a rebound and an attempt to continue the fall of the Bitcoin rate with the goal below 3535.
Bitcoin Forecast and Analysis BTC/USD February 28, 2019
In favor of reducing the BTC/USD quotes, a test of the downward trend line on the relative strength index (RSI) will come out. As well as a rebound from the upper limit of the model «Triangle». The cancellation of the Bitcoin exchange rate option will be a strong growth and a breakdown of the 3965 area. This will indicate a breakdown of the resistance area and the continued growth of the Bitcoin rate with a potential target at 4150. With the breakdown of the support area and the closure of cryptocurrency quotes below the 3650, a digital asset will fall.
Bitcoin Forecast and Analysis BTC/USD February 28, 2019 suggests an attempt to test the resistance level near the area of 3810. And then the cryptocurrency will continue to fall with a potential target of 3535. An additional signal in favor of Bitcoin depreciation will be a test of the broken trend line on the relative strength index (RSI). Cancellation of the option of falling cryptocurrency will be a strong growth and the breakdown of the area of 3965. This will indicate a continuation of the rise with a potential target above 4150.