Bitcoin BTC/USD is trading at 6396 and continues to move as part of the 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 21, 2018, a test of the upper limit of the Ichimoku Kinko Hyo Cloud is expected near the 6400 level, from which it is necessary to expect a rebound and an attempt to continue the fall of the Bitcoin cryptocurrency with a potential goal of 6100.
Bitcoin forecast & analysis BTC/USD October 21, 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. Earlier, a weak signal was received for sell of Bitcoin cryptocurrency, due to the crossing of signal lines at the level of 6390.
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 bearish 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 6350.
Bitcoin forecast & analysis BTC/USD October 21, 2018 involves an attempt to correct cryptocurrency and test the resistance level near the 6400 area, from which we can expect further decline of the Bitcoin exchange rate with a potential target near the 6100 level, cancellation of the fall will be a strong growth and breakdown of the 6550 that would indicate continued growth.