Bitcoin is trading at 5200 and continues to move through a slight increase. BTC/USD quotes move above the upper boundary of the Ichimoku Kinko Hyo Cloud. This indicates an uptrend. As part of the Bitcoin exchange rate forecast for April 19, 2019. A test of the lower boundary of the Ichimoku Kinko Hyo Cloud is expected near the 5115 level. Where should we expect a rebound and an attempt to continue the growth of Bitcoin cryptocurrency with a potential target of 5485.
Bitcoin Forecast and Analysis BTC/USD April 19, 2019
The test of the support area will be in favor of raising the BTC/USD cryptocurrency quotes. The second signal in favor of the growth rate of Bitcoin will make a rebound from the lower boundary of the rising channel. Earlier, a weak signal was received for BUY the Bitcoin cryptocurrency. The signal was formed due to the intersection of the signal lines at the level of 5045. The nearest resistance area is located at the level of 5260. The Bitcoin support area is located at the level of 5100.
Cancellation of the growth option of Bitcoin quotes will be the breakdown of the lower border of Ichimoku Kinko Hyo Cloud with quotes closing below 5040. This option will indicate a change in the upward trend in favor of the downward trend and the continuation of Bitcoin exchange rate decline on April 17, 2019. Expect confirmation of the BTC/USD price growth with breakdown areas of resistance and closure above 5300.
Bitcoin Forecast and Analysis BTC/USD April 19, 2019 implies an attempt to increase cryptocurrency and a test of support level near the 5115 area. Where can we expect Bitcoin to continue to grow with a potential target near the level of 5485. Cancellation of the rise option will also lead to a breakdown of the 5040 area. This will indicate continued decline with a potential target near the 4700 level.