Bitcoin BTC/USD is traded at 6436 and continues to move in the framework of strong growth. Cryptocurrency is trading above the upper limit of the Ichimoku Kinko Hyo Cloud, which indicates an uptrend. As part of the Bitcoin forecast & technical analysis November 5, 2018, a test of Ichimoku Kinko Hyo signal lines is expected near the level of 6380. Where should we expect a rebound and an attempt to continue the growth of Bitcoin cryptocurrency with a potential goal of 6600.
Bitcoin forecast & technical analysis November 5, 2018
A test of the support area, as well as a rebound from the upper limit of the downward channel will be in favor of the cryptocurrency quotes growth BTC/USD. Earlier, a weak signal was received for buy the Bitcoin cryptocurrency, due to the intersection of signal lines at the level of 6310.
Cancellation of the growth option of Bitcoin quotes will be the breakdown of the lower border of the Ichimoku Kinko Hyo Cloud with the closing of quotes below the 6250 area. This option will indicate a change in the upward trend in favor of the downward trend and the continuation of the fall of the Bitcoin rate. Expect acceleration of growth of BTC/USD quotes with the breakdown of the resistance area and closing above the level of 6500.
Bitcoin forecast & technical analysis November 5, 2018 involves an attempt to correct cryptocurrency and test the support level near the area of 6380, where you can expect further growth of the Bitcoin rate with a potential target near the level of 6600. that would indicate a continued decline.