Bitcoin BTC/USD is trading at 6592 and continues to move within the «Triangle» model. The cryptocurrency is trading inside the Ichimoku Kinko Hyo Cloud, which indicates the presence of a flat trend. As part of the Bitcoin forecast & analysis BTC/USD October 8, 2018, a test of the lower boundary of the Ichimoku Kinko Hyo Cloud is expected near the level of 6550, from which we can expect a rebound and an attempt to continue the growth of Bitcoin cryptocurrency with a potential goal of 6900.
Bitcoin forecast & analysis BTC/USD October 8, 2018
In support of the growth of BTC/USD cryptocurrency quotes, the support area test will come out. Earlier, a weak signal was received for buy of Bitcoin cryptocurrency, due to the crossing of signal lines at the level of 6570.
Cancellation of the growth option of Bitcoin quotes will be the breakdown of the lower border of the Ichimoku Kinko Hyo Cloud with quotes closing below 6500, which will indicate a change in the flat trend in favor of the downward trend and the continuation of the fall in the Bitcoin rate. Expect confirmation of growth of BTC/USD quotes with the breakdown of the upper limit of the «Triangle» model and closing above the level of 6750.
Bitcoin forecast & analysis BTC/USD October 8, 2018 involves an attempt to correct cryptocurrency and test the support level near 6550, from which we can expect Bitcoin to continue to grow with a potential target near 6900, the fallout will be canceled and the breakdown of 6500 will be possible. that would indicate a continued decline.
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