Bitcoin BTC/USD ends the trading week at the level of 3579 and continues to move within the framework of the correction and the formation of the «Triangle» model. Moving averages indicate a bearish trend. At the moment, we should expect an attempt to fall and a test of the support area near the level of 3480. Where again we should expect a rebound and an attempt to continue the growth of the Bitcoin rate with a potential target above the level of 4700.
Bitcoin Forecast and Analysis February 18 — 22, 2019
In the current trading week of February 18 — 22, 2019, a test of the rising trend line on the relative strength index (RSI) will be in favor of raising the BTC/USD quotes. Cancellation of the Bitcoin growth option will be a fall and a breakdown of the 3050 area. This will indicate a breakdown of the lower boundary of the «Triangle» model and a continuation of the fall of BTC/USD with a potential target below 2000. A confirmation of the development of the upward trend will be a breakdown of the upper limit of the «Triangle» model and closure of quotes above level 3850.
Bitcoin Forecast and Analysis February 18 — 22, 2019 suggests an attempt to support the area near the level of 3480. Then, the continued growth of cryptocurrency in the region above the level of 4700. An additional signal in favor of raising the rate of Bitcoin will be a test of the support line on the relative strength index (RSI). The cancellation of the Bitcoin cryptocurrency quotes growth option will be the fall and the breakdown of the 3050 area. In this case, we should expect a further decline.