Bitcoin BTC/USD is traded at the level of 15743. The cryptocurrency is traded above the upper boundary of the Ichimoku Kinko Hyo Cloud, indicating a bullish trend in Bitcoin. Ichimoku Kinko Hyo signal line area test is near the level of 15100, from which we expect a rebound and an attempt to continue growth with the target near 18150.
Bitcoin forecast & analysis BTC/USD on January 8, 2018
An additional signal in favor of the growth of the cryptocurrency will be a test of the support level. Earlier, a weak signal was received for buy of Bitcoin cryptocurrency, due to the crossing of signal lines at the level of 13050.
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 quotations below the area of 14100, which will indicate the change of the bullish trend in favor of the bearish trend. Expect to accelerate the growth of quotations BTC/USD is with a breakdown of the resistance level and closing above 16800.