Bitcoin BTC/USD is trading at 6621 and continues to move within the correction. The cryptocurrency is traded above the upper boundary of the Ichimoku Kinko Hyo Cloud, indicating an upward trend. As part of Bitcoin forecast & analysis BTC/USD October 1, 2018, Ichimoku Kinko Hyo Cloud upper boundary test is expected near the level of 6500, from which we should expect a rebound and an attempt to continue the growth of Bitcoin cryptocurrency with a potential target at 7100.
Bitcoin forecast & analysis BTC/USD October 1, 2018
In favor of the growth of the BTC/USD currency quotes, a support area test will perform, as well as a rebound from the lower bound of the «Triangle» model. Earlier, a weak signal was received for the sell of Bitcoin cryptocurrency, due to the crossing of signal lines at 6600 level.
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 6400 area, which will indicate a change in the upward trend in favor of a downward trend and the continued decline in the Bitcoin rate. To expect confirmation of the growth of quotations BTC/USD is worth a breakdown of the upper limit of the model «Triangle» and closing above the level of 6850.
Bitcoin forecast & analysis BTC/USD October 1, 2018 suggest an attempt at correction of the cryptocurrency and support level test near the area of 6500, from which it is expected to continue the growth of Bitcoin with a potential target near the level of 7100, the abolition of the growth option will be the fall and breakdown of the 6400 area, which will indicate the resumption of the downward trend and the continuation of the decline.
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