Bitcoin BTC/USD completes the trading week near the area of 15969. The cryptocurrency is trading above the Ichimoku Kinko Hyo Cloud, indicating a bullish trend in Bitcoin. Ichimoku Kinko Hyo Cloud is expected to test the upper boundary of the Cloud near 15200, from which it is expected to attempt a rebound and continue the development of the bullish trend with a target above the level of 2100.
Bitcoin (BTC/USD) weekly forecast January 8 — 12, 2018
An additional signal in favor of the growth of the cryptocurrency will be a test of the lower boundary of the bullish channel. Earlier, a weak force signal was obtained for the sell of Bitcoin cryptocurrency, due to the crossing of signal lines at the level of 14650.
The cancellation of the variant of Bitcoin quotations growth will be the breakdown of the lower boundary level. The indicator clouds and the closing are below 11700, which will indicate the change of the bullish trend in favor of the bearish trend. Expect to accelerate the growth of quotations is with the breakdown of the level of 17500.