Bitcoin BTC/USD is traded at the level of 9931. The cryptocurrency is traded above the upper boundary of the Ichimoku Kinko Hyo Cloud, which indicates a bullish trend for Bitcoin. The test area of Ichimoku Kinko Hyo signal lines near the area of 9700 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 6, 2018
In support of the growth of the cryptocurrency quotations, a support level test will perform, as well as a test of the lower boundary of the channel. Earlier, a strong signal was received for buy of Bitcoin cryptocurrency, 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 quotes below the area of 9200, which will indicate a change in the bullish trend in favor of a bearish trend. Expect an acceleration in the growth of quotations BTC/USD stands with a breakdown of the resistance area and closing above the level of 10000.
Looking for the Best Forex Broker? We trade at RoboForex. You can receive a rebates from each trade when registering using our partner link
