Bitcoin BTC/USD is trading at 7378. The cryptocurrency is trading below the lower boundary of the Ichimoku Kinko Hyo Cloud, indicating a bearish trend in Bitcoin. Ichimoku Kinko Hyo Cloud near the 7450 area is expected, from which it is expected to rebound and attempt to continue falling with a target at 6250.
Bitcoin forecast & analysis BTC/USD April 4, 2018
In favor of falling quotations of cryptocurrency, a resistance level test will perform. Earlier, a weak signal was received for buy of Bitcoin cryptocurrency, due to the crossing of signal lines at 6850 level.
Canceling 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 7850, which will indicate a change in the bearish trend in favor of the bullish trend. Expect the acceleration of the fall in quotes BTC/USD stands with the breakdown of the lower boundary of the bearish channel and the closing below the level of 5900.