Bitcoin BTC/USD completes the trading week near area 5637. Cryptocurrency is traded above the Ichimoku Kinko Hyo Cloud, indicating an bullish trend in Bitcoin. A 5300 level test is expected in the current trading week, from which it is expected to try to grow and continue the development of the bullish trend with a target near the level of 6500. An additional signal in favor of the growth of the cryptocurrency will be the test of the lower boundary area of the channel.
Bitcoin weekly forecast on October 16 — 20, 2017
Earlier, a medium strength signal was obtained for the buy Bitcoin cryptocurrency due to the crossing of signal lines at level 3950. The cancellation of the variant of Bitcoin quotations growth will be a breakdown of the lower boundary level the indicator Cloud and the closing below 4400, which indicates the change of the bullish tendency in favor of the bearish trend. Expect to accelerate the growth of quotations is with the breakdown of the upper boundary of the bullish channel and the closing above the level of 6250.