Bitcoin forecast and Analytics of BTC/USD on 22 Oct 2018

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Bitcoin forecast and Analytics of BTC/USD on 22 Oct 2018

The Bitcoin BTC/USD is trading at the level of 6438 and continues movement in the correction. The cryptocurrency is trading inside the Cloud of Ichimoku Kinko Hyo, which indicates the presence of a lateral trend. In the framework of the forecast Bitcoin exchange rate on 22 Oct 2018, is expected to test the lower boundary of the Ichimoku Kinko Hyo Cloud near the 6420 level where we can expect rebound and attempt continued growth of Bitcoin to a potential target at the level of 6700.

Bitcoin forecast and Analytics of BTC/USD on 22 Oct 2018

In favor of the price growth of the cryptocurrency, BTC/USD will perform test support, and rebounded from the upper border of the descending channel. Were previously received average signal power for purchases of Bitcoin, due to the intersection of the signal lines at the level of 6395.

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 the 6350, which indicates the change of lateral tendency in favor of a downtrend and the continued depreciation of Bitcoin. Expect acceleration of growth of quotations of EUR/USD is a breakout of the resistance area and closing above the level of 6550.

Thus, Bitcoin forecast and Analytics of BTC/USD on 22 October 2018 involves the attempt to correct cryptocurrency and test the support level near 6420 region where we can expect continued growth of the Bitcoin exchange rate with a potential target near the level of 6700, the cancellation option growth will drop and the breakdown region 6350, which indicates continued decline.

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