Bitcoin BTC/USD is trading at 4995 and continues to move as part of the correction. 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 6, 2019. A test of the upper limit of the Ichimoku Kinko Hyo Cloud is expected near the level of 4785. Where should we expect a rebound and an attempt to continue the growth of Bitcoin cryptocurrency with a potential target of 5850.
Bitcoin Forecast and Analysis BTC/USD April 6, 2019
The test of the support area will be in favor of raising the BTC/USD cryptocurrency quotes. The second signal will be a rebound from the lower boundary of the rising channel. Earlier, a strong signal was received for BUY the Bitcoin cryptocurrency. The signal was formed due to the intersection of the signal lines at the level of 4055. The nearest resistance area is located at the level of 5405. The Bitcoin support area is located at the level of 4755.
Cancellation of the growth option of Bitcoin quotes will be the breakdown of the lower Ichimoku Kinko Hyo Cloud boundary with the closure of quotes below 4535. 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 5, 2019. Expect confirmation of the BTC/USD price growth with a breakdown areas of resistance and closure above 5525.
Bitcoin Forecast and Analysis BTC/USD April 6, 2019 implies an attempt to fall cryptocurrency and a test support level near 4785. Where can we expect Bitcoin to continue to grow with a potential target near 5850. Cancellation of the rise option will be a fall and a breakdown of 4535. This will indicate a continued decline with a potential target below 3975.