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

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

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The Bitcoin BTC/USD is trading at the level of 6265 and continues to move within fall. Cryptocurrency trading below the lower border of the Ichimoku Kinko Hyo Cloud, indicating a downward trend. In the framework of the forecast Bitcoin exchange rate on October 31, 2018, the expected test signal lines Ichimoku Kinko Hyo 6330 near the level where we can expect rebound and attempted the continuation of the fall of Bitcoin to a potential target at the level of 6050.

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

In favor of the drop in prices of cryptocurrencies BTC/USD will perform the test of resistance and rebounded from the upper border of the descending channel. Was previously received signal average strength for sales of Bitcoin, due to the intersection of the signal lines at the level of 6405.

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 6450, which will point to a change in the downward trend in favor of the upward trend and the continued growth of Bitcoin. Expected to accelerate the drop in prices of BTC/USD is a breakout of the support area and closing below the 6200 level.

Thus, Bitcoin forecast and Analytics of BTC/USD on October 31, 2018 implies an attempt of correction cryptocurrency and test of resistance near the area of 6330, where we can expect further rate fall of Bitcoin, with a potential target near the level of 6050, cancellation of risk will be strong growth and the breakdown region 6450, which indicates continued growth.

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