Bitcoin BTC/USD is trading at 9031. The cryptocurrency is traded above the upper boundary of the Ichimoku Kinko Hyo Cloud, indicating a bullish trend for Bitcoin. Ichimoku Kinko Hyo Cloud is expected to be tested near the 8700 area, from which we should expect a rebound and an attempt to continue growth with a target at 10050.
Bitcoin forecast & analysis BTC/USD on March 22, 2018
In favor of the growth of the cryptocurrency quotes, the upper bound of the descending channel will perform, as well as the test of the support area. Earlier, we received a weak signal for the buy of Bitcoin cryptocurrency, due to the crossing of the signal lines at the level of 7700.
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 770, which will indicate the change of the bullish trend in favor of the bearish trend. Expect the growth of quotations BTC/USD stands with the breakdown of the resistance area and the closing above the level of 9200.
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