Bitcoin BTC/USD is trading at 5706. Cryptocurrency is traded above the upper boundary of the Ichimoku Kinko Hyo Cloud, indicating an bullish trend in Bitcoin. Ichimoku Kinko Hyo Cloud near the 5480 level is expected to be tested near the level of 5480, from which it is expected to attempt a rebound and continue growth with a target above the level of 6350.
Bitcoin prediction & analysis BTC/USD on October 20, 2017
An additional signal in favor of the growth of the cryptocurrency is the formation of the «Head and Shoulders» reversal model. Earlier, a weak signal was received for the sale of Bitcoin’s crypto currency due to the crossing of signal lines at 5600. 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 5200 area, which will indicate a change in the bullish trend in favor of the bearish trend. Expect an acceleration in the growth of quotations BTC/USD stands with a breakdown of the level of 5880.
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