Bitcoin BTC/USD is completing the trading week near the 12708 area. The cryptocurrency is trading above the Ichimoku Kinko Hyo Cloud, indicating a bullish trend in Bitcoin. The Ichimoku Kinko Hyo Cloud upper limit test is expected near 11600, from which it is expected to attempt a rebound and continue the development of the bullish trend with a target above 17500. An additional signal in favor of the growth of the cryptocurrency will be a test of the support level.
Bitcoin (BTC/USD) weekly forecast January 1 — 5, 2017
Earlier, a weak signal was obtained for the sell of Bitcoin cryptocurrency, due to the crossing of signal lines at the level of 14650. The cancellation of the variant of Bitcoin quotations growth will be a breakdown of the level of the lower boundary. The indicator clouds and the closing below 10400, which will indicate a change in the upward trend in favor of a downward trend. Expect the acceleration of the growth of quotations is with the breakdown of the level of 14500.
The daily chart also shows a bullish model «Wolfe Wave» with the potential target of working near the area of 19000.
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