Bitcoin forecast and Analytics of BTC/USD on 3 October 2018

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Bitcoin forecast and Analytics of BTC/USD on 3 October 2018

The Bitcoin BTC/USD is trading at the level of 6555 and continues to move within rising channel. Cryptocurrency trading below the lower border of the Ichimoku Kinko Hyo Cloud, indicating a downward trend. In the framework of the forecast of exchange rate of Bitcoin on October 3, 2018, is expected to test the upper border of the Ichimoku Kinko Hyo Cloud near the 6600 level where we can expect rebound and attempted the continuation of the fall of Bitcoin to a potential target at the level of 6200.

Bitcoin forecast and Analytics of BTC/USD on 3 October 2018

In favor of declines in cryptocurrencies BTC/USD will perform the test of resistance. Earlier it was obtained a weak signal for selling Bitcoin through the intersection of the signal lines at the level of 6600.

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 upward trend and the 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 3 October 2018 involves the attempt to correct cryptocurrency and test of resistance near the area of 6600, where we can expect further rate fall of Bitcoin, with a potential target near the level of 6200, cancellation of risk will be strong growth and the breakdown region 6700, which indicates continued growth.

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