Bitcoin BTC/USD is traded at the level of 7025. The cryptocurrency is trading below the lower boundary of the Ichimoku Kinko Hyo Cloud, which indicates a bearish trend in Bitcoin. The test area of Ichimoku Kinko Hyo signal lines near the area 7150 is expected, from which it is expected to rebound and attempt to continue falling with the target at the level of 5700.
Bitcoin forecast & analysis BTC/USD April 1, 2018
In favor of falling quotations of cryptocurrency, a resistance level test will perform, as well as a test of the upper boundary of the bearish channel. Earlier, a weak signal was received for the sell of Bitcoin cryptocurrency, due to the crossing of signal lines at the level of 8500.
Canceling the variant of Bitcoin quotations drop will be a breakdown of the upper boundary of the Ichimoku Kinko Hyo Cloud with the closing of quotes above the area of 8100, which will indicate a change in the bearish trend in favor of the bullish trend. Expect the acceleration of the fall in quotations BTC/USD stands with the breakdown of the lower boundary of the bearish channel and the closing below the level of 6200.