Bitcoin BTC/USD is traded at the level of 7690. 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 level of 7550, from which we should expect a rebound and an attempt to continue the growth of the cryptocurrency with a target at 8400 level.
Bitcoin forecast & analysis BTC/USD June 8, 2018
In favor of the growth of the cryptocurrency quotations, a test of the support area will perform, as well as a test of the lower boundary of the bullish channel. Earlier, we received a weak signal for sell of Bitcoin cryptocurrency, due to the crossing of signal lines at the level of 7250.
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 7300, which will indicate a change in the bullish trend in favor of the bearish trend and the continued decline in the Bitcoin rate. Expect an acceleration in the growth of quotations BTC/USD stands with the breakdown of the resistance area and the closing above the level of 8000.
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