Bitcoin BTC/USD ends the trading week at 45075, continues to move within the correction and the bullish channel. Moving averages indicate a bearish 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 a test of the resistance area near the level of 51405. 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 16505.
Bitcoin Weekly Forecast April 4 — 8, 2022
An additional signal in favor of a decrease in BTC/USD quotes in the current trading week April 4-8, 2022 will be a rebound from the upper limit of the bullish channel. The second signal will be a rebound from the resistance line on the relative strength index (RSI). Cancellation of the fall option for Bitcoin will be a strong growth and a breakdown of the 56455 area. This will indicate a breakdown of the resistance area and a continued rise in BTC/USD quotes with a potential target above the level of 67405. A confirmation of the development of a downward movement will be a breakdown of the support area and closing of quotes below the level of 30505, which will indicate breakdown of the lower border of the bullish channel.
Bitcoin Weekly Forecast April 4 — 8, 2022 suggests an attempt at a resistance area near the level of 51405. Then the cryptocurrency will continue to fall to the area below the level of 16505. 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 56455 area. In this case, we should expect a continuation of the rise with the target at the level of 67405.
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