Bitcoin BTC/USD is traded at the level of 7019 and continues to move within the bullish channel. The cryptocurrency is traded above the upper boundary of the Ichimoku Kinko Hyo Cloud, indicating a bullish trend in Bitcoin. As part of the forecast of the digital currency exchange rate, the Ichimoku Kinko Hyo Cloud upper limit test is expected near the 6900 level, from which one should expect a rebound and an attempt to continue the growth of Bitcoin cryptocurrency with a target at 7450 level.
Bitcoin forecast & analysis BTC/USD September 2, 2018
In favor of the growth of the BTC/USD cryptocurrency 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 6885 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 quotes below the area of 6650, which will indicate a change in the bullish trend in favor of the bearish trend and the continued decline in the Bitcoin rate. Expect to accelerate the growth of quotations BTC/USD stands with the breakdown of the upper limit of the model «Triangle» and the closing above the level of 7100.
Bitcoin forecast & analysis BTC/USD September 2, 2018 suggests an attempt to correct the cryptocurrency and support level test near the area of 6900, from which it is expected to continue the growth of Bitcoin with a potential target near the level of 7450, the cancellation of the growth scenario will be a strong fall and breakdown of the 6650 area, which will indicate the resumption of the bearish trend and the continuation of the decline.
Looking for the Best Forex Broker? We trade at RoboForex. You can receive a rebates from each trade when registering using our partner link
