Bitcoin BTC/USD is trading at 6764. The cryptocurrency is trading below the lower boundary of the Ichimoku Kinko Hyo Cloud, indicating a bearish trend in Bitcoin. Ichimoku Kinko Hyo Cloud test is expected near the area of 7000, from which it is expected to rebound and attempt to continue falling with a target at 5700 level.
Bitcoin forecast & analysis BTC/USD April 6, 2018
In favor of falling quotations of cryptocurrency, a resistance level test will perform. Earlier, a strong signal was received for sell 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 quotations above the area of 7550, which will indicate the change of the bearish trend in favor of the bullish trend. Expect to accelerate the fall in quotes BTC/USD is with the breakdown of the support area and closing below the level of 6400.