Bitcoin BTC/USD is trading at 6561. 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 level of 6500, from which we should expect a rebound and an attempt to continue the growth of Bitcoin cryptocurrency with a target at 7000.
Bitcoin forecast & analysis BTC/USD July 8, 2018
In support of the growth of the BTC/USD cryptocurrency quotes, a support level test will perform, as well as a test of the lower limit of the «Triangle» model. Earlier, a weak signal was received for the sell of Bitcoin cryptocurrency, due to the crossing of signal lines at the level of 6500.
The cancellation of the variant of Bitcoin quotations growth will be the breakdown of the lower boundary of the Cloud of Ichimoku Kinko Hyo with the closing of quotations below the area of 6200, which will indicate a change in the bullish trend in favor of a downward 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 upper limit of the model «Triangle» and the closing above the level of 6650.
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