Bitcoin BTC/USD ends the trading week at the level of 3866 and continues to move in the bullish 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 3595. 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 4515.
Bitcoin Forecast and Analysis March 18 — 22, 2019
In the current trading week of March 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. The second signal will be a rebound from the lower boundary of the rising channel. Cancellation of the Bitcoin growth option will be a fall and a breakdown of the 3350 area. This will indicate a breakdown of the lower boundary of the channel and the continuation of BTC/USD falling with a potential target below 2850. Confirmation of the development of the bullish trend will be a breakdown of the resistance area and closing of quotes above the level of 4150.
Bitcoin Forecast and Analysis March 18 — 22, 2019 suggests an attempt at the support area near the level of 3595. Then, the continued growth of cryptocurrency to the region above the level of 4515. An additional signal in favor of raising the Bitcoin rate will be 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 3350 region. In this case, we should expect a further decline.
Looking for the Best Forex Broker? We trade at RoboForex. You can receive a rebates from each trade when registering using our partner link
