Bitcoin forecast & analysis BTC/USD June 5, 2018


Bitcoin BTC/USD is trading at 7496. The cryptocurrency is traded within the Ichimoku Kinko Hyo Cloud, which indicates a flat trend for Bitcoin. The Ichimoku Kinko Hyo Cloud lower limit test is expected near the level of 7350, 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 5, 2018

In favor of growth of quotations of cryptocurrency, a test of the support area will perform. Earlier, a weak signal was received for buy of Bitcoin cryptocurrency, due to the crossing of signal lines at 7250 level.

Bitcoin forecast & analysis BTC/USD June 5, 2018

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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