Bitcoin forecast and Analytics of BTC/USD on October 6, 2018

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Bitcoin forecast and Analytics of BTC/USD on October 6, 2018

The Bitcoin BTC/USD is trading at 6579 and continues to move in the framework of the model “Triangle“. 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 of exchange rate of Bitcoin on October 6, 2018, is expected to test the lower boundary of the Ichimoku Kinko Hyo Cloud near the level of 6550, where we can expect rebound and attempt continued growth of Bitcoin to a potential target at the level of 6900.

Bitcoin forecast and Analytics of BTC/USD on October 6, 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 weak signal for purchases of Bitcoin, due to the intersection of the signal lines at the level of 6570.

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 lateral tendency in favor of a downtrend and the continued depreciation of Bitcoin. Wait for confirmation that growth of quotations BTC/USD is a breakout of the upper boundary of the model “Triangle” and close above 6750.

Thus, Bitcoin forecast and Analytics of BTC/USD on October 6, 2018 implies an attempt of correction cryptocurrency and test the support level near the area of 6550, where we can expect continued growth of the Bitcoin exchange rate with a potential target near the level of 6900, the cancellation option growth will drop and the breakdown region of 6500, that will indicate a continued decline.

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