Bitcoin BTC/USD is traded at the level of 6486. 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 of 6750 is expected, from which it is expected to rebound and attempt to continue falling with the target at the level of 5300.
Bitcoin forecast & analysis BTC/USD April 2, 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.
The cancellation of the variant of Bitcoin quotations drop will be the breakdown of the upper boundary of the Ichimoku Kinko Hyo Cloud with the closing of quotes above the area of 7800, 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 descending channel and the closing below the level of 6100.
In favor of falling quotes is also the breakdown of the lower boundary of the model «Triangle» at small time intervals. The target of testing the model is the area below the level of 5700. The cancellation will be the breakdown of the area 7100.