Bitcoin BTC/USD ends the trading week at 27896, continues to move as part of the development of growth and the formation of a bearish Wolfe Wave pattern. Moving averages indicate a bullish trend. Prices have broken through the area between the signal lines up, which indicates pressure from buyers of the asset and a potential continuation of the growth of asset quotes. At the moment, we should expect an attempt to develop a rise in the price of the coin and test the resistance area near the level of 28705. From where we should again expect a rebound down and a continuation of the fall in the Bitcoin rate with a potential target below the level of 18605.
Bitcoin Weekly Forecast April 10 — 14, 2023
An additional signal in favor of a decrease in BTC/USD quotes in the current trading week April 10 — 14, 2023 will be a rebound from the upper border of the descending channel. The second signal will be a rebound from the resistance line on the relative strength index (RSI). Cancellation of the Bitcoin fall option will be a strong growth and a breakdown of the area of 33405. This will indicate a breakdown of the resistance area and continued growth of BTC/USD quotes with a potential target above the level of 39765. The development of the downward movement will be confirmed by a breakdown of the support area and closing of quotes below the level of 18205, which will indicate breakdown of the lower border of the bullish correction channel.
Bitcoin Weekly Forecast April 10 — 14, 2023 suggests an attempt at the resistance area near the level of 28705. Then the cryptocurrency will continue to fall to the area below the level of 18605. An additional signal in favor of the Bitcoin rate depreciation in the current trading week will be a test of the trend line on the relative strength index (RSI). Cancellation of the option of falling Bitcoin cryptocurrency quotes will be a strong growth and a breakdown of the area of 33405. In this case, we should expect a continuation of the rise with the target at the level of 39765.
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