Bitcoin BTC/USD is trading at 5858. Cryptocurrency is traded above the upper boundary of the Ichimoku Kinko Hyo Cloud, indicating an bullish trend in Bitcoin. Ichimoku Kinko Hyo signal line area test is near the 5800 level, from which it is expected to attempt a rebound and continue growth with a target above the level of 6550. An additional signal in favor of the growth of the cryptocurrency is the support level test.
Bitcoin prediction & analysis BTC/USD on October 24, 2017
Earlier, a medium strength signal was obtained for the buy of Bitcoin cryptocurrency due to the crossing of signal lines at 5470. The abolition of the Bitcoin quotation growth scenario will be the breakdown of the Ichimoku Kinko Hyo Cloud lower boundary with the closing of quotations below the 5450 area, which indicates the shift of the bullish trend in favor of a bearish trend. Expect an acceleration in the growth of quotations BTC/USD stands with a breakdown of the level of 6220.
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