Bitcoin BTC/USD is trading at 8609. The cryptocurrency is traded above the upper boundary of the Ichimoku Kinko Hyo Cloud, indicating a bullish trend for Bitcoin. The test area of the Ichimoku Kinko Hyo signal lines near the area of 8500 is expected, from which we should expect a rebound and an attempt to continue growth with the target at the level of 9700.
Bitcoin forecast & analysis BTC/USD on March 24, 2018
In support of the growth of the cryptocurrency quotations, a test of the support area will perform, as well as a test of the upper boundary of the bearish channel. Earlier, we received a weak signal for the buy of Bitcoin cryptocurrency, due to the crossing of the signal lines at the level of 7700.
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 7700, which will indicate a change in the bullish trend in favor of a bearish trend. To expect confirmation of the growth of quotations BTC/USD stands with the breakdown of the resistance area and the closing above the level of 9200.