Bitcoin is trading at 5125 and continues to move as part of the growth and formation of the «Triangle» model. 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 8, 2019. The test of the Ichimoku Kinko Hyo signal lines is expected to be near the level of 5065. Where should we expect a rebound and an attempt to continue the growth of Bitcoin cryptocurrency with a potential target of 5450.
Bitcoin Forecast and Analysis BTC/USD April 8, 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 5025. The nearest resistance area is located at the level of 5255. The area of support for Bitcoin is located at the level of 5065.
Cancellation of the growth option of Bitcoin quotes will be the breakdown of the lower border of Ichimoku Kinko Hyo Cloud with closure of quotes below 4935. 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 8, 2019. Expect confirmation of the growth of BTC/USD quotes with breakdown the upper border of the «Triangle» model and closure above 5225.
Bitcoin Forecast and Analysis BTC/USD April 8, 2019 implies an attempt to fall cryptocurrency and a test support level near 5065. Where can we expect Bitcoin to continue to grow with a potential target near 5450. Cancellation of the rise option will be a fall and a sample of 4935. This will indicate a continued decline with a potential target below 4475.