Bitcoin price resumes the decline – Analysis - 16-04-2019

Bitcoin price returns to provide negative trades after approaching 5237.73 level in the previous sessions, reinforcing the expectations of continuing the bearish trend on the intraday and short term basis, and the way is open to achieve our first target at 4830.90, reminding you that breaking this level will extend the bearish wave to reach 4424.00.

Note that the continuation of the expected decline depends on the price stability below 5237.73, as breaching it will lead the price to resume the bullish wave and head towards 5741.10 as a next positive target.

The expected trading range for today is between 4800.00 support and 5200.00 resistance

The expected trend for today: Bearish