Bitcoin BTC/USD is trading at the level of 2725.02. Cryptocurrency is traded above the upper boundary of the Ichimoku Kinko Hyo Cloud, indicating an bullish trend in Bitcoin. The Ichimoku Kinko Hyo Cloud upper boundary test is expected near the level of 2650.00, from which one should expect an attempt of growth and further development of the bullish trend for BTC/USD with a target to growth near the level of 3040.00.
Bitcoin forecast & analysis BTC/USD on August 4, 2017
Earlier, a weak signal was received for the sale of Bitcoin cryptocurrency, due to the crossing of signal lines at the level of 2741.00. The cancellation of the variant of Bitcoin quotations growth will be the breakdown of the lower boundary of the Cloud of Ichimoku Kinko Hyo with the closing of quotes below the area of 2540.00, which will indicate a change in the bullish trend in favor of the bearish trend. To expect the acceleration of the growth of quotations on BTC/USD stands with the breakdown of the local maximum area at the level of 2970.00.
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