Bitcoin BTC/USD is trading at 7341. 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 level 7210 is expected, from which one should expect a rebound and an attempt to continue the growth of Bitcoin cryptocurrency with a target at 8000.
Bitcoin forecast & analysis BTC/USD July 22, 2018
In favor of the growth of the BTC/USD cryptocurrency quotes, a test of the support area 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 6700 area, which will indicate a change in the bullish trend in favor of the bearish trend and the continued decline in the Bitcoin rate. Expect an acceleration in the growth of quotations BTC/USD stands with the breakdown of the resistance area and the closing above the level of 7700.
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