Bitcoin BTC/USD is trading at 6350. The cryptocurrency is traded within the Ichimoku Kinko Hyo Cloud, which indicates 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 6200, from which one should expect a rebound and an attempt to continue the growth of Bitcoin cryptocurrency with a target at 7150.
Bitcoin forecast & analysis BTC/USD August 19, 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 lower bound of the «Triangle» model. 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 19, 2018 suggests an attempt at correction of the cryptocurrency and support level test near the area of 6200, from which it is expected to continue the growth of Bitcoin with a potential target near the level of 7150, the cancellation of the growth scenario will be a strong fall and breakdown of the region 6000, which will indicate the resumption of the bearish trend and the continuation of the decline.
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