Bitcoin BTC/USD is trading at the level of 5517 and continues to move within the framework of the correction and the formation of the «Triangle» model.
Cryptocurrency is trading below the lower boundary of the Ichimoku Kinko Hyo Cloud. This indicates the presence of a downward trend. As part of the Bitcoin prediction & analysis BTC/USD November 19, 2018, a test of Ichimoku Kinko Hyo signal lines is expected near the level of 5530. Where should we expect a rebound and an attempt to continue the fall of Bitcoin cryptocurrency with a potential target of 4950.
Bitcoin prediction & analysis BTC/USD November 19, 2018
In favor of the fall of BTC/USD cryptocurrency quotes, a test of the resistance area will come out. As well as a rebound from the upper limit of the model «Triangle». Earlier, a weak signal was received for SELl the Bitcoin cryptocurrency, due to the intersection of signal lines at the level of 6450.
Canceling the option of falling Bitcoin quotes will break the upper boundary of the Ichimoku Kinko Hyo Cloud with quotes closing above the 5900 area. Such an option would indicate a change in the downward trend in favor of an upward trend and continued growth of the Bitcoin rate. Expect confirmation of a decline in BTC/USD quotes with a breakdown of the lower boundary of the «Triangle» model and closing below the 5400 level.
Bitcoin prediction & analysis BTC/USD November 19, 2018 suggests an attempt to correct cryptocurrency and test the resistance level near 5530. Where can we expect further decline in Bitcoin with a potential target near 4950. Cancellation of the reduction option will be strong growth and breakdown of the 5900 area This will indicate continued growth.