Bitcoin BTC/USD completes the trading week near the area of 5862. Cryptocurrency is traded above the Ichimoku Kinko Hyo Cloud, indicating a bullish trend in Bitcoin. Ichimoku Kinko Hyo Cloud near the level of 5050 is expected to test the upper boundary, from which one should expect a rebound and continue the development of the bullish trend. An additional signal in favor of reducing the cryptocurrency is the formation of the reversal model «Head and Shoulders».
Bitcoin forecast on October 30 — November 3, 2017
Earlier, a medium strength signal was obtained for the buy of Bitcoin cryptocurrency due to the crossing of signal lines at level 3950. The cancellation of the variant of Bitcoin quotations growth will be the breakdown of the lower boundary level. The indicator clouds and the closing below 4400, which indicates the change of the bullish tendency in favor of the bearish trend. Expect to accelerate the growth of quotations is with the breakdown of the upper boundary of the bullish channel and closing above the level of 6500.
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