Bitcoin BTC/USD is traded at the level of 7628. 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 7400 level, from which we should expect a rebound and an attempt to continue the growth of the cryptocurrency with a target at 8500 level.
Bitcoin forecast & analysis BTC/USD June 6, 2018
In support of the growth of the cryptocurrency quotations, a test of the support area 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 quotations below the area of 7200, which will indicate a change in the bullish trend in favor of the bearish trend and the continued decline in Bitcoin. Expect to accelerate the growth of quotations BTC/USD is with a breakdown of the resistance area and closing above the level of 7850.
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