Bitcoin forecast and Analytics of BTC/USD on 31 August 2018

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Bitcoin forecast and Analytics of BTC/USD on 31 August 2018

The Bitcoin BTC/USD is trading at the level of 6809 and continues to move within rising channel. Cryptocurrency trading above the upper boundary of the Clouds Ichimoku Kinko Hyo, which indicates that the rising trend in Bitcoin. In the framework of the forecast rate of digital currency is expected to test the upper boundary of the Clouds Ichimoku Kinko Hyo is close to the 6650 level, where we can expect rebound and attempt continued growth of Bitcoin to the goal at the level of 7300.

Bitcoin forecast and Analytics of BTC/USD on 31 August 2018

In favor of the price growth of the cryptocurrency, BTC/USD will perform test support area and rebound from the lower boundary of the rising channel. Earlier it was obtained a strong signal for purchases of Bitcoin, due to the intersection of the signal lines at the level of 6430.

Cancellation option growth of quotations of Bitcoin will breakout of the lower border of the Ichimoku Kinko Hyo Cloud with the closing of the quotations below 6500, which indicates the change of the upward trend in favor of the downtrend and the continued depreciation of Bitcoin. Expect acceleration of growth of quotations of EUR/USD is a breakout of resistance and a close above 7150.

Thus, Bitcoin forecast and Analytics of BTC/USD on 31 August 2018 is an attempt cryptocurrency correction and test the level of support near the 6650 area where we can expect continued growth of the Bitcoin exchange rate with a potential target near the level of 7300, the cancellation option growth will be a strong drop and the breakdown region of 6500, that will indicate the resumption of the downward trend and continued decline.

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