Bitcoin BTC/USD is traded at 7933. The cryptocurrency is traded above the upper boundary of the Ichimoku Kinko Hyo Cloud, indicating a bullish trend for Bitcoin. The test area of Ichimoku Kinko Hyo signal lines near the area of 7750 is expected, from which we should expect a rebound and an attempt to continue growth with the target at 9000 level.
Bitcoin forecast & analysis BTC/USD April 17, 2018
In favor of the growth of quotations, the cryptocurrency will perform a support level, as well as a test of the lower boundary of the bullish channel. Earlier, a medium strength signal was obtained for the buy of Bitcoin, due to the crossing of signal lines at 6900 level.
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 7200, which will indicate a change in the bullish trend in favor of a bearish trend. Expect the acceleration of the growth of quotations BTC/USD stands with the breakdown of the resistance area and the closing above the level of 8550.
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