Bitcoin BTC/USD is being traded at 6266 and continues to move as part of the fall. Cryptocurrency is trading below the lower boundary of the Ichimoku Kinko Hyo Cloud, which indicates the presence of a downward trend. As part of the Bitcoin prediction & analysis BTC/USD October 31, 2018, Ichimoku Kinko Hyo’s signal lines are expected to test near the level of 6350, from where it is necessary to expect a rebound and an attempt to continue the fall of Bitcoin cryptocurrency with a potential target of 6150.
Bitcoin prediction & analysis BTC/USD October 31, 2018
In favor of the fall of the BTC/USD cryptocurrency quotes, there will be a test of the resistance area, as well as a rebound from the lower border of the «Triangle» model. Earlier, a medium strength signal was obtained for SELL the Bitcoin cryptocurrency, due to the crossing of signal lines at the level of 6405.
Canceling the option of falling Bitcoin quotes will break the upper boundary of the Ichimoku Kinko Hyo Cloud with the close of quotes above 6450, indicating a change in the downward trend in favor of the bullish trend and continued growth of the Bitcoin rate. Expect to accelerate the fall of BTC/USD quotes with the breakdown of the support area and closing below the level of 6200.
Bitcoin prediction & analysis BTC/USD October 31, 2018 involves an attempt to correct cryptocurrency and test the resistance level near the 6350 area, from which we can expect Bitcoin to continue to fall with the potential target near the 6150 level, cancellation of the decline will be strong growth and breakdown of the 6450 area that would indicate continued growth.