Bitcoin BTC/USD is traded at 7681. The cryptocurrency is traded within the Ichimoku Kinko Hyo Cloud, which indicates a flat trend for Bitcoin. The test area of the Ichimoku Kinko Hyo signal lines near the level of 7550 is expected, from which one should expect a rebound and an attempt to continue the growth of the cryptocurrency with a target at 8250 level.
Bitcoin forecast & analysis BTC/USD June 4, 2018
In support of the growth of quotations of cryptocurrency, a test of the support level will perform, as well as a test of the upper boundary of the bearish channel. Earlier, a weak signal was received for buy of Bitcoin cryptocurrency, due to the crossing of signal lines at 7250 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 7250, which will indicate a change in the flat trend in favor of a 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 boundary of the Cloud Ichimoku Kinko Hyo and the closing above the level of 7850.
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