Bitcoin BTC/USD is trading at 6492 and continues to move within the growth framework. The cryptocurrency is traded within the Ichimoku Kinko Hyo Cloud, which indicates the presence of a lateral trend over Bitcoin. As part of Bitcoin forecast & analysis BTC/USD September 16, 2018, the Ichimoku Kinko Hyo signal line area test is expected near the 6370 level, from which we expect a rebound and an attempt to continue the growth of Bitcoin cryptocurrency with a potential target at 6700.
Bitcoin forecast & analysis BTC/USD September 16, 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 upper boundary of the bearish channel. Earlier, a weak signal was received for buy of Bitcoin cryptocurrency, due to the crossing of signal lines at 6250 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 6250, which will indicate a change in the flat trend in favor of a bearish trend and the continued decline in the Bitcoin rate. To expect confirmation of the growth of quotations BTC/USD stands with the breakdown of the upper boundary of the Ichimoku Kinko Hyo Cloud and the closing above the level of 6760.
Bitcoin forecast & analysis BTC/USD September 16, 2018 suggest an attempt at correction of the cryptocurrency and support level test near the area of 6370, where we can expect the Bitcoin rate to continue growing with a potential target near the level of 6700, the abolition of the growth variant will be a decrease and breakdown of the area 6250, which will indicate the resumption of the downward trend and the continuation of the fall.
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