BTC/USD are trading at 57705 and continue to move as part of the correction. Bitcoin cryptocurrency capitalization at the time of the publication of the forecast is $1,081,336,656,116. Moving averages indicate a short-term bearish trend for Bitcoin. Prices are again pushing the area between the signal lines, which indicates pressure from the sellers of “Digital Gold” and the potential continuation of the fall in the value of the asset already from the current levels. As part of the cryptocurrency rate forecast for tomorrow, May 4, 2021, we should expect an attempt to develop a decline in the value of a digital asset and a test of the support level near the 54405 area. Where again should we expect a rebound and an attempt to grow the Bitcoin rate with a target above the 65175 area.
Bitcoin Forecast and Analysis BTC/USD May 4, 2021
An additional signal in favor of raising the BTC/USD quotes will be a test of the bullish trend line on the relative strength index (RSI). The second signal will be a rebound from the lower border of the bullish channel. Cancellation of the option to raise the rate and value of Bitcoin will be a fall in the value of the asset and a breakdown of the area of 51205. This will indicate a breakdown of the support area and the continuation of the fall in the Bitcoin rate with a potential target at 45605. With the breakdown of the resistance area and closing of cryptocurrency quotes above the level of 59805.
Bitcoin Forecast and Analysis BTC/USD May 4, 2021 suggests an attempt to test the support level near the 54405 area. And further, the cryptocurrency will continue to grow with a potential target at 65175. An additional signal in favor of the Bitcoin rate rise will be a test of the support line on the relative strength index (RSI). Cancellation of the cryptocurrency growth option will be a fall and a breakdown of the 51205 area. This will indicate a continued decline with a potential target below the 45605 area.
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