Bitcoin BTC/USD is traded at 9091. The cryptocurrency is traded within the Ichimoku Kinko Hyo Cloud, which indicates a flat trend for Bitcoin. A test of the lower boundary of the Ichimoku Kinko Hyo Cloud near the area of 9000 is expected, from which we should expect a rebound and an attempt to continue growth with the target at 10400 level.
Bitcoin forecast & analysis BTC/USD May 3, 2018
In favor of growth of quotations of cryptocurrency, a test of the support area will perform. Earlier, we received a weak signal for sell 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 8700 area, which will indicate a change in the flat 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 9400.
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