Bitcoin is trading at the level of 5253 and continues to move within the framework of growth and the formation of the «Triangle» model. Uncertainty persists. For strong growth, it is important to see strong growth and a breakdown of the local maximum. BTC/USD quotes move above the upper boundary of the Ichimoku Kinko Hyo Cloud. This indicates an upward trend in a digital asset. As part of the Bitcoin exchange rate forecast for April 22, 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 5865.
Bitcoin Forecast and Analysis BTC/USD April 22, 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 of the Bitcoin rate will be a rebound from the lower limit of the «Triangle» model. 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 at the level of 5385. The area of support for Bitcoin is at the level of 5000.
Cancellation of the growth option of Bitcoin quotes will be the breakdown of the lower border of Ichimoku Kinko Hyo Cloud with closing of quotes below 5025. 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 22, 2019. Expect confirmation of the growth of BTC/USD quotes with a breakdown the upper boundary of the «Triangle» model and closing above the level of 5300. In this case, we can expect a steady growth of the rate.
Bitcoin Forecast and Analysis BTC/USD April 22, 2019 implies an attempt to increase cryptocurrency and a test of support level near 5115. Where can we expect Bitcoin to continue to grow with a potential target near 5865. Cancellation of the rise option will also lead to a breakdown of 5025. This will indicate a continued decline with a potential target near the 4715 level.