Bitcoin BTC/USD is traded at 7218 and continues to move within the bullish channel. The cryptocurrency is traded above the upper boundary of the Ichimoku Kinko Hyo Cloud, indicating an upward trend in Bitcoin. As part of the forecast of the digital currency exchange rate, the Ichimoku Kinko Hyo signal line area test is expected near the level of 7050, from which we should expect a rebound and an attempt to continue the growth of Bitcoin cryptocurrency with a target at 7850 level.
Bitcoin forecast & analysis BTC/USD September 3, 2018
In favor of the growth of the BTC/USD cryptocurrency quotes, a test of the support area will perform, as well as a rebound from the lower border of the bullish channel. Earlier, a strong signal was received for buy of Bitcoin cryptocurrency, due to the crossing of 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 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 boundary of the bullish channel and the closing above the level of 7400.
Bitcoin forecast & analysis BTC/USD September 3, 2018 suggests an attempt at correction of the cryptocurrency and support-level test near the area of 7050, from which it is expected to continue the growth of the Bitcoin exchange rate with a potential target near the level of 7850, the reversal of the growth scenario will be a strong fall and breakdown of the 6650 area, which will indicate the resumption of the downward trend and the continuation of the decline.
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