Bitcoin BTC/USD is trading at 6404 and continues to move as part of the correction. The cryptocurrency is traded inside the Ichimoku Kinko Hyo Cloud, which indicates a side trend. As part of the Bitcoin forecast & analysis BTC/USD October 23, 2018, a test of the lower boundary of the Ichimoku Kinko Hyo Cloud is expected near the level of 6390, where a rebound is expected and an attempt to continue to grow Bitcoin cryptocurrency with a potential target of 6650.
Bitcoin forecast & analysis BTC/USD October 23, 2018
A test of the support area, as well as a rebound from the lower border of the «Triangle» model, will be in favor of the cryptocurrency quotes growth BTC/USD. Earlier, a medium strength signal was obtained for buy of Bitcoin cryptocurrency, due to the crossing of signal lines at 6395.
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 area of 6350, which will indicate a change in the side trend in favor of the downward trend and the continuation of the fall in the rate of Bitcoin. Expect confirmation of growth in BTC/USD quotes with a breakdown of the upper limit of the «Triangle» model and closing above 6500.
Bitcoin forecast & analysis BTC/USD October 23, 2018 involves an attempt to correct cryptocurrency and test the support level near the area of 6390, where you can expect Bitcoin to continue to grow with the potential target near 6650, the growth option will be canceled and that would indicate a continued decline.