Bitcoin BTC/USD are trading at 3861 and continue to move as part of the correction. Cryptocurrency capitalization at the time of the publication of the forecast is $69 106 524 756. 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 3785. 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 4120.
Bitcoin Forecast and Analysis BTC/USD March 12, 2019
In favor of the growth of BTC/USD quotes, a test of an uptrend trend line on the relative strength index (RSI) will come out. 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 3700 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 3525. With the breakdown of the resistance area and the closure of cryptocurrency quotes above the level of 3960, we should expect confirmation of growth of the digital asset rate.
Bitcoin Forecast and Analysis BTC/USD March 12, 2019 suggests an attempt to test the support level near 3785. And further cryptocurrency growth continues with a potential target at 4120. 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 3700 region. This will indicate a continued decline with a potential target below 3525.
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