Bitcoin BTC/USD is trading at 4000 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 the presence of a bullish trend. As part of the Bitcoin Forecast and Analysis BTC/USD March 21, 2019. A test of the Ichimoku Kinko Hyo signal lines is expected near the level of 3950. Where should we expect a rebound and an attempt to continue the growth of Bitcoin cryptocurrency with a potential target of 4165.
Bitcoin Forecast and Analysis BTC/USD March 21, 2019
A 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 3845. The nearest resistance area is located at the level of 4050. The Bitcoin support area is located at the level of 3915.
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 3865. 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 March 21, 2019. Expect confirmation of the BTC/USD price growth with a breakdown the upper border of the «Triangle» model and the closure above area 4045.
Bitcoin Forecast and Analysis BTC/USD March 21, 2019 implies an attempt to fall cryptocurrency and a test support level near the area of 3950. Where can we expect further growth of the Bitcoin rate with a potential target near the level of 4165. Cancellation of the lifting option will be the fall and breakdown of the area of 3865. This will indicate a continued decline with a potential target below 3565.