Bitcoin BTC/USD is trading at 6126. Cryptocurrency is traded above the upper boundary of the Ichimoku Kinko Hyo Cloud, indicating a bullish trend in Bitcoin. The test area of Ichimoku Kinko Hyo signal lines near the level of 5950 is expected, from which it is expected to rebound and continue growth with the target near 6700. An additional signal in favor of the growth of the cryptocurrency will be a test of the support area.
Bitcoin forecast & analysis BTC/USD on October 31, 2017
Earlier, a medium strength signal was obtained for the buy of Bitcoin cryptocurrency, by crossing the 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 5500, which will indicate the change of the bullish tendency in favor of a bearish trend. Expect to accelerate the growth of quotations BTC/USD stands with a breakdown of the local maximum level and a close above 6250.
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