Bitcoin BTC/USD is trading at 9657. 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 area of 9200, 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 5, 2018
In favor of the growth of the cryptocurrency quotes, the upper bound of the «Triangle» model will perform, as well as the test of the lower boundary of the bullish channel. Earlier, a strong signal was received for buy of Bitcoin, due to the crossing of signal lines at the level of 9050.
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 8900, 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 resistance area and the closing above the level of 9800.
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