Bitcoin BTC/USD completes the trading week near area 5814. Cryptocurrency is traded above the Ichimoku Kinko Hyo Cloud, indicating an bullish trend in Bitcoin. Ichimoku Kinko Hyo signal line area test is expected, from which one should expect an attempt of growth and continuation of development of the bullish trend with a target near the level of 6500. An additional signal in favor of the growth of the cryptocurrency will be a test of the support level.
Bitcoin weekly forecast on October 23 — 27, 2017
Earlier, a medium strength signal was obtained for the buy of Bitcoin cryptocurrency due to the crossing of signal lines at level 3950. The cancellation of the variant of Bitcoin quotations growth will be a breakdown of the lower boundary level. The indicator clouds and the closing below 4400, which indicates the change of the bullish tendency in favor of the bearish trend. Expect to accelerate the growth of quotations is with the breakdown of the upper boundary of the bullish channel and closing above the level of 6450.
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