Bitcoin BTC/USD is trading at 7385. Cryptocurrency is traded 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 level of 7350 is expected, from which it is expected to rebound and continue growth with the target near 8100. An additional signal in favor of growth will be the test of the lower boundary of the bullish channel.
Bitcoin forecast & analysis BTC/USD on November 7, 2017
Earlier, a medium strength signal was received for the buy of Bitcoin cryptocurrency due to the crossing of signal lines at the level of 5700. 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 6500, 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 local maximum level and a close above 7750.
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