Bitcoin BTC/USD is trading at 9619. The cryptocurrency is trading above the upper boundary of the Ichimoku Kinko Hyo Cloud, indicating a bullish trend in Bitcoin. The test area of Ichimoku Kinko Hyo signal lines near the area of 9500 is expected, from which we should expect a rebound and an attempt to continue growth with the target at 10600 level.
Bitcoin forecast & analysis BTC/USD May 7, 2018
In support of growth of quotations of cryptocurrency, a test of the level of support will perform. 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 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.
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