Bitcoin BTC/USD is trading at 8269. The cryptocurrency is traded below the lower boundary of the Ichimoku Kinko Hyo Cloud, indicating a bearish trend in Bitcoin. The Ichimoku Kinko Hyo Cloud lower limit test is expected near the 8700 level, from which one should expect a rebound and an attempt to continue falling with the target at 6100. An additional signal in favor of the drop will be a resistance level test, as well as a test of the upper boundary of the bearish channel.
Bitcoin forecast & analysis BTC/USD on February 9, 2018
Earlier, a weak signal was received for buy of Bitcoin cryptocurrency, due to the crossing of signal lines at the level of 7500. Cancellation of 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 9700, which will indicate the change of 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 support area and the closure below the level of 6700.
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