Bitcoin BTC/USD is trading at 6726. The cryptocurrency is traded within the Ichimoku Kinko Hyo Cloud, which indicates a flat trend over Bitcoin. The test area of Ichimoku Kinko Hyo signal lines near the level of 6600 is expected, from which we should expect a rebound and an attempt to continue the growth of the cryptocurrency with a target at 7350 level.
Bitcoin forecast & analysis BTC/USD June 21, 2018
In favor of the growth of the cryptocurrency quotes, the test of the support area will perform, as well as the upper bound of the «Triangle» model. Earlier, a weak signal was received for buy 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 Ichimoku Kinko Hyo Cloud with the closing of quotations below the area of 6300, which indicates a change in the flat trend in favor of the bearish trend and the continued decline in the Bitcoin rate. To expect confirmation of the growth of quotations BTC/USD stands with the breakdown of the upper boundary of the Ichimoku Kinko Hyo Cloud and the closing above the level of 7000.
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