Bitcoin BTC/USD is trading at 7440. The cryptocurrency is traded above the upper boundary of the Ichimoku Kinko Hyo Cloud, indicating a bullish trend in Bitcoin. The test area of Ichimoku Kinko Hyo signal lines near the level of 7250 is expected, from which we should expect a rebound and an attempt to continue the growth of Bitcoin cryptocurrency with a target at 8100.
Bitcoin forecast & analysis BTC/USD July 20, 2018
In support of the growth of the cryptocurrency BTC/USD quotes, a support level test will perform, as well as a test of the upper boundary of the channel. Earlier, a weak signal was received for buy of Bitcoin cryptocurrency, due to the crossing of signal lines at 6250 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 quotations below the area of 6350, which will indicate a change in the bullish trend in favor of the bearish trend and the continued decline in the Bitcoin rate. 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 7550.
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