Bitcoin BTC/USD is trading at 6673 and continues to move within the framework of growth. The cryptocurrency is traded above the upper boundary of the Ichimoku Kinko Hyo Cloud, indicating an upward trend. As part of Bitcoin’s forecast for September 29, 2018, the Ichimoku Kinko Hyo Cloud upper boundary test is expected near the level of 6550, from which we should expect a rebound and an attempt to continue the growth of Bitcoin cryptocurrency with a potential target at 7100.
Bitcoin forecast & analysis BTC/USD September 29, 2018
In favor of the growth of the BTC/USD currency rate quotations, the support area test will perform. Earlier, a medium strength signal was obtained for the buy of Bitcoin cryptocurrency, due to the crossing of the signal lines at the level of 6550.
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 6450, which will indicate a change in the upward trend in favor of a downward trend and the continued decline in the Bitcoin rate. Expect the acceleration of the growth of quotations BTC/USD stands with the breakdown of the resistance area and the closing above the level of 6850.
Bitcoin forecast & analysis BTC/USD September 29, 2018 suggests an attempt at correction of the cryptocurrency and support level test near the area of 6550, from which it is expected to continue the growth of Bitcoin with a potential target near the level of 7100, the cancellation of the growth scenario will be the fall and breakdown of the area 6450, which will indicate the resumption of the downward trend and the continuation of the decline.
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