Bitcoin BTC/USD is traded at 7442. The cryptocurrency is traded above the upper boundary of the Ichimoku Kinko Hyo Cloud, indicating a bullish trend in Bitcoin. The Ichimoku Kinko Hyo signal line area test is expected near the level of 7350, from which one should expect a rebound and an attempt to continue the growth of Bitcoin cryptocurrency with a target at 8100 as part of the «Triangle» model development.
Bitcoin forecast & analysis BTC/USD July 21, 2018
In favor of the growth of the BTC/USD cryptocurrency, the support area test will perform. 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 6700 area, which will indicate a change in the upward trend in favor of the downward 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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