Bitcoin BTC/USD is trading at 9327. The cryptocurrency is traded above the upper boundary of the Ichimoku Kinko Hyo Cloud, indicating a bullish trend for Bitcoin. Ichimoku Kinko Hyo Cloud is expected to be tested near the area of 9250, from which we should expect a rebound and an attempt to continue growth with the target at 10400 level.
Bitcoin forecast & analysis BTC/USD April 29, 2018
In favor of the growth of quotations of cryptocurrency, the test of the lower border of the channel will perform, as well as a test of the support level. Earlier, we received a weak signal for sell of Bitcoin cryptocurrency, due to the crossing of signal lines at the level of 9050.
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 8600, 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 9700.
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