Bitcoin BTC/USD is trading at 6516. The cryptocurrency is traded within the Ichimoku Kinko Hyo Cloud, indicating a flat trend in Bitcoin. As part of the forecast of the digital currency exchange rate, the Ichimoku Kinko Hyo cloud lower limit test is expected near the level of 6280, from which we should expect a rebound and an attempt to continue the growth of Bitcoin cryptocurrency with a target at 7200 level.
Bitcoin forecast & analysis BTC/USD August 18, 2018
In favor of the growth of the BTC/USD cryptocurrency quotes, a support area test will perform, as well as a rebound from the upper boundary of the bearish channel. Earlier, we received a weak signal for buy of Bitcoin cryptocurrency, due to the crossing of signal lines at the level of 6130.
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 6000 area, which will indicate a change in the flat trend in favor of the bearish trend and the continued decline in the Bitcoin rate. To expect confirmation of the growth of quotations of BTC/USD and the resumption of the upward trend is due to the breakdown of the upper boundary of the Ichimoku Kinko Hyo Cloud and the closing above the level of 6650.
Bitcoin forecast & analysis BTC/USD August 18, 2018 suggests an attempt to correct the cryptocurrency and support level test near area 6280, from which it is expected to continue the growth of cryptocurrency Bitcoin with a potential target near the level of 7200, the cancellation of the growth scenario will be a strong fall and the breakdown of the region 6000, which will indicate the resumption of the bearish trend and the continuation of the decline.
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