Bitcoin BTC/USD ends the trading week at the level of 3866 and continues to move in the ascending channel. 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 3585. 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 4535.
Bitcoin Forecast and Analysis March 11 — 15, 2019
In the current trading week of March 11 — 15, 2019, a rising trend line test on the relative strength index (RSI) will be in favor of raising the BTC/USD quotes. The second signal will be a rebound from the lower boundary of the bullish channel. The cancellation of the Bitcoin growth option will be a fall and a breakdown of the 3100 area. This will indicate a breakdown of the lower boundary of the channel and the continuation of the fall of BTC/USD with a potential target below 2550. A confirmation of the development of the upward trend will be a breakdown of the resistance area and closing of quotes above the level of 4150.
Bitcoin Forecast and Analysis March 11 — 15, 2019 suggests an attempt at the support area near the level of 3585. Then, the continued growth of cryptocurrency to the area above the level of 4535. An additional signal in favor of raising the rate of Bitcoin is the test of the support line on the relative strength index (RSI). The cancellation of the growth option of Bitcoin cryptocurrency quotes will be the fall and the breakdown of the area of 3100. In this case, we should expect a further decline.