Bitcoin BTC/USD are trading at 5190 and continue to move as part of the decline and the bullish channel. Cryptocurrency capitalization at the time of the publication of the forecast is $93 654 460 960. Moving averages indicate the presence of a bullish trend in Bitcoin. At the moment, we should expect an attempt of growth and a test of the resistance level near the area of 5395. Where again we should expect a rebound and an attempt to continue the fall of the Bitcoin rate with the goal below the level of 4075.
Bitcoin Forecast and Analysis BTC/USD May 1, 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. The second signal will be the formation of the «Head and Shoulders» reversal pattern. Cancellation of the Bitcoin exchange rate decline will be a strong growth and a breakdown of the 5700 area. This will indicate a breakdown of the resistance area and a continued rise of the Bitcoin rate with a potential target at 6155. With the breakdown of the support area and the closure of cryptocurrency quotes below the 4850.
Bitcoin Forecast and Analysis BTC/USD May 1, 2019 suggests an attempt to test the resistance level near 5395. And then the cryptocurrency will continue to fall with a potential target at 4075. An additional signal in favor of Bitcoin depreciation will be a test of the downward trend line on the relative strength index (RSI). Cancellation of the option to reduce cryptocurrency will be a strong growth and the breakdown of the 5700 region. This will indicate a continuation of the rise with a potential goal above 6155.
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