Bitcoin BTC/USD is traded at the level of 8079. The cryptocurrency is traded above the upper boundary of the Ichimoku Kinko Hyo Cloud, indicating a bullish trend in Bitcoin. Ichimoku Kinko Hyo Cloud is expected to test near the 8050 level, from which we expect a rebound and an attempt to continue the growth of Bitcoin cryptocurrency with a target at 8800 level.
Bitcoin forecast & analysis BTC/USD July 31, 2018
In favor of the growth of the BTC/USD cryptocurrency, the support area test will perform, as well as the lower bound of the «Triangle» model. Earlier, a strong signal was received for buy of Bitcoin cryptocurrency, due to the crossing of signal lines at 8150 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 quotes below the area of 7650, 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 8350.