Bitcoin BTC/USD are trading at 3682 and continue to move as part of the correction. Cryptocurrency capitalization at the time of the publication of the forecast is $66 067 718 986. 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 3725. Where again we should expect a rebound and an attempt to continue the fall of the Bitcoin exchange rate with the goal below 3485.
Bitcoin Forecast and Analysis BTC/USD March 5, 2019
In favor of reducing the BTC/USD quotes, a test of the bearish trend line on the relative strength index (RSI) will come out. As well as a rebound from the lower border of the model «Triangle». The cancellation of the Bitcoin exchange rate option will be a strong growth and a breakdown of the 3975 area. This will indicate the breakdown of the resistance area and the continued growth of the Bitcoin rate with a potential target at 4170. With the breakdown of the support area and the closure of cryptocurrency quotes below 3565, a digital asset exchange rate decline is expected.
Bitcoin Forecast and Analysis BTC/USD March 5, 2019 suggests an attempt to test the resistance level near 3725. And then the cryptocurrency will continue to fall with a potential target of 3485. 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 3975. This will indicate a continuation of the rise with a potential goal above 4170.
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