Bitcoin BTC/USD is traded at the level of 5711. Cryptocurrency is traded above the upper boundary of the Ichimoku Kinko Hyo Cloud, which indicates the presence of an bullish trend for Bitcoin. Ichimoku Kinko Hyo signal line area test near the 5550 level is expected, from which it is expected to attempt a rebound and continue growth with a target above 6200. An additional signal in favor of the growth of the cryptocurrency will be the breakdown of the upper boundary of the «Triangle» model.
Bitcoin prediction & analysis BTC/USD on October 16, 2017
Earlier, a strong signal was received for buy of Bitcoin cryptocurrency due to the crossing of signal lines at the level of 4260. The abolition 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 4900 area, 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 level of 5900.
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