Bitcoin BTC/USD is trading at the level of 3203.40. Cryptocurrency is traded above the upper boundary of the Ichimoku Kinko Hyo Cloud, indicating an bullish trend in Bitcoin. The price of BTC/USD is expected to drop to the level of 2950.00, from which one should expect an attempt of growth and further development of the bull tendency on BTC/USD with the target of growth near the level of 3690.00.
Bitcoin forecast & analysis BTC/USD on August 7, 2017
Earlier, a strong signal was received for buying of Bitcoin cryptocurrency, due to the crossing of signal lines at the level of 2767.00. An additional signal in favor of the bullish trend will be a test of the support area. The cancellation of the variant of Bitcoin quotations growth will be the breakdown of the lower boundary of the Ichimoku Kinko Hyo Cloud with the closing of quotations below the area of 2520.00, which will indicate a change in the bullish trend in favor of the bearish trend. Expect to accelerate the growth of quotations on BTC/USD is with the breakdown of the local maximum area at 3560.00.
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