Bitcoin BTC/USD is trading at 17343. Cryptocurrency is traded above the upper boundary of the Ichimoku Kinko Hyo Cloud, indicating a bullish trend in Bitcoin. Ichimoku Kinko Hyo signal line area test is near the level of 16900, from which we expect a rebound and an attempt to continue growth with the target close to 19700. Earlier, a strong signal was received for buy of Bitcoin cryptocurrency due to the crossing of signal lines at 15200.
Bitcoin forecast & analysis BTC/USD on December 16, 2017
An additional signal in favor of the growth of the cryptocurrency will test the ascending trend line. 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 quotes below the area of 14300, which will indicate a change in the bullish trend in favor of a bearish trend. Expect to accelerate the growth of quotations BTC/USD stands with the breakdown of the upper limit of the model «Triangle» and the closing above the level of 17600.
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