Bitcoin BTC/USD is traded at 8080. 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 7850 is expected, from which we should expect a rebound and an attempt to continue growth with the target at 8800 level.
Bitcoin forecast & analysis BTC/USD April 18, 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 quotes below the area of 7250, 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 8350.
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