Bitcoin BTC/USD is trading at 5803. Cryptocurrency is traded above the upper boundary of the Ichimoku Kinko Hyo Cloud, indicating a bullish trend in Bitcoin. The Ichimoku Kinko Hyo Cloud upper limit test is expected near the 5650 level, from which it is expected to rebound and continue growing with the target close to 6100. Earlier, a medium strength signal was obtained to buy Bitcoin cryptocurrency, by crossing the signal lines at the level of 5700.
Bitcoin forecast & analysis BTC/USD on October 30, 2017
Canceling the growth scenario of Bitcoin quotations, breakdown of the lower boundary of the Ichimoku Kinko Hyo Cloud with the closing of quotes below the area of 5500, which indicates the change of the bullish trend in favor of a bearish trend. Expect to accelerate the growth of quotations BTC/USD stands with the breakdown of the local maximum level and the closing above 6250. Do not exclude the attempt to form the «Head and Shoulders» reversal pattern, with the breakdown of the level 5350 there will be the potential for serious correction of Bitcoin in the area below the level of 4400. Canceling the formation of the reversal model will be breakdown of the local maximum, which indicates the continued growth.
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