Bitcoin BTC/USD is traded at the level of 7524. Cryptocurrency is traded above the upper boundary of the Ichimoku Kinko Hyo Cloud, indicating a bullish trend in Bitcoin. Ichimoku Kinko Hyo signal line area test is expected near the level of 7350, from which it is expected to rebound and continue growth with the target close to 8100. An additional signal in favor of growth is the test of the unfavorable boundary of the bullish channel.
Bitcoin forecast & analysis BTC/USD on November 6, 2017
Earlier, a medium strength signal was obtained for the buy of Bitcoin cryptocurrency due to the crossing of signal lines at the level of 5700. 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 quotes below the area of 6450, which will indicate a change in the bullish trend in favor of a bearish trend. Expect an acceleration in the growth of quotations BTC/USD stands with a breakdown of the local maximum level and a close above 7750.
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