Bitcoin BTC/USD is trading at 6336 and continues to move as part of the upward correction. Cryptocurrency is trading below the lower boundary of the Ichimoku Kinko Hyo Cloud, which indicates the presence of a bearish trend. As part of the Bitcoin forecast & analysis BTC/USD October 14, 2018, the test of the Ichimoku Kinko Hyo signal lines is expected near the level of 6430, from which we can expect a rebound and an attempt to continue the fall of Bitcoin cryptocurrency with a potential target of 6000.
Bitcoin forecast & analysis BTC/USD October 14, 2018
In favor of lowering the BTC/USD cryptocurrency quotes, a test of the resistance area will be made, as well as a rebound from the upper limit of the downward channel. Previously, a strong signal was received for sell of Bitcoin cryptocurrency, due to the crossing of signal lines at the level of 6610.
Canceling the option of falling Bitcoin quotes will break the upper boundary of the Ichimoku Kinko Hyo Cloud with quotes closing above 6550, indicating a change in the downward trend in favor of an upward trend and continued growth of the Bitcoin rate. Expect to accelerate the fall of BTC/USD quotes with the breakdown of the support area and closing below the level of 6200.
Bitcoin forecast & analysis BTC/USD October 14, 2018 involves an attempt to correct cryptocurrency and test the resistance level near the 6430 area, from which we can expect Bitcoin to continue falling with a potential target near the 6000 level, the cancellation option will be growth and the breakdown of the 6550 area, that would indicate continued growth.