Bitcoin BTC/USD is trading at 8572. The cryptocurrency is traded within the Ichimoku Kinko Hyo Cloud, indicating a flat trend over Bitcoin. The test area of Ichimoku Kinko Hyo signal lines near the area of 8300 is expected, from which we should expect a rebound and an attempt to continue growth with the target at 9700 level.
Bitcoin forecast & analysis BTC/USD on March 23, 2018
In favor of growth of quotations of cryptocurrency, a test of the support area will perform. 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 7700, which will indicate a change in the flat trend in favor of a bearish trend. To expect confirmation of 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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