Bitcoin BTC/USD is traded at the level of 6744. The cryptocurrency is traded above the upper boundary of the Ichimoku Kinko Hyo Cloud, indicating a bullish trend in Bitcoin. The test area of the Ichimoku Kinko Hyo signal lines near the level 6650 is expected, from which one should expect a rebound and an attempt to continue the growth of Bitcoin’s crypto currency with a target at 7200 level.
Bitcoin forecast & analysis BTC/USD July 9, 2018
In favor of the growth of the BTC/USD cryptocurrency quotes, the lower bound of the channel will perform, as well as the upper bound of the «Triangle» model. Earlier, a strong signal was received for the buy of Bitcoin cryptocurrency, due to the crossing of signal lines at 6600 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 6250, which will indicate a change in the bullish trend in favor of the bearish trend and the continued decline in the Bitcoin rate. Expect the acceleration of the growth of quotations BTC/USD stands with the breakdown of the resistance area and the closing above the level of 6950.
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