Bitcoin BTC/USD is trading at 2703. The currency is traded above the upper bound of the Ichimoku Kinko Hyo Indicator Cloud, indicating an bullish trend in Bitcoin. The Ichimoku Kinko Hyo border test is expected near the level of 2650, from which it is expected to attempt an increase and further development of the bullish trend for BTC/USD with a view to growth near the level of 3150.
Bitcoin BTC/USD prediction & analysis on July 31, 2017
Earlier, a medium strength signal was obtained for the buying of Bitcoin cryptocurrency, by crossing the signal lines at 2620 An additional signal in favor of the growth of quotations of BTC/USD is the formation of the «Head and Shoulders» reversal pattern. 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 area of 2500, which will indicate a change in the bullish trend in favor of the bearish trend. Expect the acceleration of the growth of quotations on BTC/USD is with the breakdown of the local maximum area at the level of 2850.
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