Bitcoin forecast & analysis BTC/USD on October 27, 2017


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Bitcoin BTC/USD is trading at 5851. Cryptocurrency is traded above the upper boundary of the Ichimoku Kinko Hyo Cloud, indicating a bullish trend in Bitcoin. A 6000 level test is expected and a fall to the broken edge of the Ichimoku Kinko Hyo Cloud near the level of 5800. Earlier, a weak signal was received for the sell of Bitcoin cryptocurrency, by crossing the signal lines at the level of 5900.

Bitcoin forecast & analysis BTC/USD on October 27, 2017

Bitcoin forecast & analysis BTC/USD on October 27, 2017

The abolition of the Bitcoin quotation growth scenario will be a breakdown of the lower boundary of the Ichimoku Kinko Hyo Cloud with closing quotes below the area of ​​5500, which indicates the change in the bullish trend in favor of a bearish trend. Expect to accelerate the growth of quotations BTC/USD stands with the breakdown of the local maximum level and the closing above 5350.

Do not exclude the attempt to form the «Head and Shoulders» reversal pattern, with the breakdown of the level 5350 there will be the potential for serious correction of Bitcoin in the area below the level of 4400. Canceling the formation of the reversal model will breakdown of the local maximum, which indicates the continued growth.

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