Bitcoin BTC/USD is completing the trading week near the area of 984. The cryptocurrency is traded within the Ichimoku Kinko Hyo Cloud, which indicates the presence of a flat trend over Bitcoin. Ichimoku Kinko Hyo Cloud is expected to test the lower boundary near 12500, from which it is expected to attempt a rebound and continue the development of the bullish trend with a target above 18200. Earlier, a medium strength signal was obtained to buy Bitcoin cryptocurrency, by crossing the signal lines at 14550.
Bitcoin (BTC/USD) weekly forecast January 15 — 19, 2018
The abolition of the growth scenario for Bitcoin quotations will be a breakdown of the lower boundary level of the indicator Cloud and the closing are below 11200, which will indicate a change in the flat trend in favor of a bearish trend. Expect to accelerate the growth of quotations is with the breakdown of the upper limit of the model «Triangle» and the closing above the level of 15600. However, with the breakdown of the lower boundary of the model «Triangle», we should not exclude the development of a deep correction for Bitcoin.
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