Bitcoin forecast and Analytics of BTC/USD on 11 Oct 2018

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Bitcoin forecast and Analytics of BTC/USD on 11 Oct 2018

The Bitcoin BTC/USD is trading at the level of 6599 and continues to move in the framework of the “Triangle” that suggests declining volatility. Cryptocurrency trading above the upper boundary of the Clouds Ichimoku Kinko Hyo, which indicates the presence of a downward trend. In the framework of the forecast of exchange rate of Bitcoin on 11 November 2018, is expected to test the lower boundary of the Ichimoku Kinko Hyo Cloud near the level of 6630, where we can expect rebound and attempted the continuation of the fall of Bitcoin to a potential target at the level of 6300.

Bitcoin forecast and Analytics of BTC/USD on 11 Oct 2018

In favor of declines in cryptocurrencies BTC/USD will perform the test of resistance. Earlier it was obtained a strong signal for sales of Bitcoin, due to the intersection of the signal lines at the level of 6610.

The cancellation option drop in prices of Bitcoin will be a break of the upper border of the Ichimoku Kinko Hyo Cloud with the closing of the quotations above 6700 that will point to a change in the downward trend in favor of the downward trend and continued growth of Bitcoin. Wait for a confirmation of the drop in prices of BTC/USD is a breakout of the lower boundary of the model “Triangle” and close below the level 6450.

Thus, Bitcoin forecast and Analytics of BTC/USD on October 11, 2018 implies an attempt of correction cryptocurrency and test of resistance near the area of 6630, where we can expect further rate fall of Bitcoin, with a potential target near the level of 6300, cancellation of risk will increase and the breakdown region 6700, which indicates continued growth.

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