BTC/USD are trading at 43777 and continue to move within the correction and the bullish channel. The capitalization of the Bitcoin cryptocurrency at the time of the publication of the forecast is $830,399,968,772. Moving averages indicate a short-term bullish trend for Bitcoin. Prices are again testing the area between the signal lines, which indicates pressure from buyers of Digital Gold and a potential continuation of the fall in the value of the asset already from current levels. As part of the cryptocurrency rate forecast for tomorrow, April 8, 2022, we should expect an attempt to develop a correction in the value of a digital asset and a test of the support level near the 41345 area. From where we should again expect a rebound upwards and an attempt to continue the growth of the Bitcoin rate with a target above the 48505 area.
Bitcoin Forecast BTC/USD April 8, 2022
An additional signal in favor of the growth of BTC/USD quotes will be a test of the trend line on the relative strength index (RSI). The second signal in favor of this option will be a rebound from the lower border of the bullish channel. Cancellation of the growth option for the exchange rate and the cost of Bitcoin will be a fall in the value of the asset and a breakdown of the 39005 area. This will indicate a breakdown of the support area and a continued fall in the Bitcoin exchange rate with a potential target at 35205. A confirmation of the rise in the price of the asset will be a breakdown of the resistance area with the price fixing above the level of 50505, which will indicate a breakdown of the upper limit of the bullish channel.
Bitcoin Forecast BTC/USD April 8, 2022 suggests an attempt to test the support level near the area of 41345. And further, the cryptocurrency will continue to grow with a potential target at 48505. An additional signal in favor of the growth of the Bitcoin rate will be a test of the support line on the relative strength index (RSI). Cancellation of the cryptocurrency rise option will be a fall and a breakdown of the 39005 area. This will indicate a continued decline with a potential target below the 35205 area.
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