Bitcoin is trading at 5044 and continues to move as part of growth. 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 7, 2019. A test of the Ichimoku Kinko Hyo signal lines is expected to be near the 5000 level. Where should we expect a rebound and an attempt to continue the growth of Bitcoin cryptocurrency with a potential target of 5800.
Bitcoin Forecast and Analysis BTC/USD April 7, 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 signal lines at the level of 4055. The nearest resistance area is at the level of 5400. The Bitcoin support area is at the level of 4805.
Cancellation of the growth option of Bitcoin quotes will be a breakdown of the lower border of Ichimoku Kinko Hyo Cloud with quotes closing below 4595. 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 6, 2019. Expect confirmation of the growth of BTC/USD quotes with breakdown areas of resistance and closure above 5425.
Bitcoin Forecast and Analysis BTC/USD April 7, 2019 implies an attempt to fall cryptocurrency and a test support level near 5000. From where we can expect Bitcoin to continue to grow with a potential target near 5800. Cancellation of the rise option will be a fall and a sample of 4595. This will indicate a continued decline with a potential target below 3975.