Bitcoin BTC/USD are trading at 3830 and continue to move as part of the correction. Cryptocurrency capitalization at the time of the publication of the forecast is $68 650 234 758. Moving averages indicate the presence of a bearish trend in Bitcoin. At the moment, we should expect an attempt to fall and a test of the support level near the area of 3775. 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 4115.
Bitcoin Forecast and Analysis BTC/USD March 7, 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. Cancellation of the Bitcoin exchange rate growth option will be a fall and a breakdown of the 3650 area. This will indicate a breakdown of the support area and a continued decline of the Bitcoin rate with a potential target at 3425. With the breakdown of the upper limit of the downward channel and closure of cryptocurrency quotes above the level of 3950 .
Bitcoin Forecast and Analysis BTC/USD March 7, 2019 suggests an attempt to test the support level near 3775. And then the cryptocurrency will continue to grow with a potential target at 4115. 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 option of cryptocurrency will fall and the breakdown of the area of 3650. This will indicate a continued decline with a potential target below 3425.
Looking for the Best Forex Broker? We trade at RoboForex. You can receive a rebates from each trade when registering using our partner link
