Bitcoin BTC/USD is trading at 9218. 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 test near the 9100 area, from which it is expected to rebound and attempt to continue growth with a target at 10500.
Bitcoin forecast & analysis BTC/USD May 1, 2018
In favor of the growth of quotations of the cryptocurrency, a test of the lower border of the channel will be made, as well as a test of the support area. Earlier, a strong signal was received for buy of Bitcoin, due to the crossing of signal lines at the level of 9150.
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 8650, which will indicate a change in the bullish trend in favor of a bearish trend. Expect to accelerate the growth of quotations BTC/USD stands with the breakdown of the upper limit of the model «Triangle» and the closing above the level of 9500.
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