Bitcoin BTC/USD is trading at 6438 and continues to move as part of the correction. The cryptocurrency is traded inside the Ichimoku Kinko Hyo Cloud, which indicates a side trend. As part of the Bitcoin forecast & analysis BTC/USD October 22, 2018, a test of the lower boundary of the Ichimoku Kinko Hyo Cloud is expected near the level of 6420, where a rebound is expected and an attempt to continue to grow Bitcoin cryptocurrency with a potential target of 6700.
Bitcoin forecast & analysis BTC/USD October 22, 2018
A test of the support area, as well as a rebound from the upper limit of the bearish channel will be in favor of the cryptocurrency quotes growth BTC/USD. Earlier, a medium strength signal was obtained for buy of Bitcoin cryptocurrency, due to the crossing of signal lines at 6395.
Cancellation of the growth option of Bitcoin quotes will be the breakdown of the lower border of the Ichimoku Kinko Hyo Cloud with the closing of quotes below the area of 6350, which will indicate a change in the side trend in favor of the downward trend and the continuation of the fall in the rate of Bitcoin. Expect acceleration of growth of BTC/USD quotes with the breakdown of the resistance area and closing above the level of 6550.
Bitcoin forecast & analysis BTC/USD October 22, 2018 involves an attempt to correct cryptocurrency and test the support level near the 6420 area, from where we can expect Bitcoin to continue to grow with a potential target near 6700, the growth option will be canceled and the breakdown of the 6350 area will that would indicate a continued decline.