Bitcoin BTC/USD is trading at 6376. The cryptocurrency is traded above the upper boundary of the Ichimoku Kinko Hyo Cloud, indicating a bullish trend in Bitcoin. Ichimoku Kinko Hyo Cloud near the level 6200 is expected to test the upper boundary, from which we should expect a rebound and an attempt to continue the growth of the cryptocurrency with a target at 7000 level.
Bitcoin forecast & analysis BTC/USD July 1, 2018
In favor of growth of quotations of cryptocurrency, a test of the support area will perform. Earlier, a weak signal was received for buy of Bitcoin cryptocurrency, due to the crossing of signal lines at the level of 6000.
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 5850, which will indicate a change in the bullish trend in favor of a bearish trend and the continued decline in the Bitcoin rate. To expect confirmation of the growth of quotations BTC/USD stands with the breakdown of the upper boundary of the descending channel and the closing above the level of 6600.
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