Bitcoin BTC/USD completes the trading week near the area of 10997. Cryptocurrency is trading above the Ichimoku Kinko Hyo Cloud, which indicates a bullish trend in Bitcoin. The test area of Ichimoku Kinko Hyo signal lines near 9800 is expected, from which it is expected to attempt a rebound and continue the development of the bullish trend with a target above the level of 13700.
Bitcoin (BTC/USD) weekly forecast December 4 — 8, 2017
An additional signal in favor of the growth of the cryptocurrency will be a test of the lower boundary of the bullish channel. Earlier, a medium strength signal was obtained for the buy of Bitcoin cryptocurrency due to the crossing of signal lines at 3950. The abolition of the variant of Bitcoin quotations growth will be the breakdown of the lower boundary level. The indicator clouds and the closing below 8100, which will indicate a change in the bullish trend in favor of the bearish trend. Expect to accelerate the growth of quotations is with the breakdown of the level of 12200.