Bitcoin has grown rapidly. What to expect next?

Cryptomaniac
By April 2, 2019 14:28

Hello!!! From my past analysis of the main cryptocurrency it took a little more than a week … And what happened during this period?

I note that Bitcoin still quite confidently broke the resistance level at the mark of $4219; and literally one day’s candle has reached the mark of $4874, but could not fix it on it.

Who remembers my past forecast, I advised not this mark – $4874 to record a profit, in the case of growth from $ 4219. Who made it – that goodman). But what to expect from the BTC next? Let’s take a look …

BTC / USDT

Today BTC trades at a mark of $4,735. In this case, the RSI is in a zone of overbought, which is more than logical.

Open chart

Obviously, the most logical continuation of the movement, in my opinion, is the correction. After that it is possible either a turn, or a gradual pushing to the level (the second option is still more likely, but do not relax).

All who still did not record their profits may have to do it now. Or, in anticipation of further growth, put Stop orders in the range of $4406 – $4513 (I note that the price of cryptocurrency sometimes falls below the level of 0.38 correction for Fibonacci, but growth continues further …)

For those who have already left the position (or did not have time to go in), I would recommend to refrain from active decisions. While the price is inside the price range, there is no confirmation of movement. (there is no guarantee that the price will continue to grow, and the conditions foreseeing the fall are also absent).

It is worth waiting for a testing level of $4874 … If the price of it will fail, then the next target is $5436. If the correction is delayed and the price hits $4406, then we can talk about restoring the downtrend; the expected price in this case is $4219.

Remark!!! While on the 1 hour chart, the price continues to accumulate and squeeze to $4874. In this RSI is gradually unloaded … If the trend continues, then there is a chance to overcome this level in the near future (without a protracted correction). Carefully watch the chart!!!

Open chart

I wish you a successful trade!

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Cryptomaniac
By April 2, 2019 14:28