Bitcoin BTC/USD is trading at 9262. The cryptocurrency is traded below the lower boundary of the Ichimoku Kinko Hyo Cloud, indicating a bearish trend in Bitcoin. The test area of the Ichimoku Kinko Hyo signal lines near the area of 9525 is expected, from which one should expect a rebound and an attempt to continue falling with a target at 7450 level.
Bitcoin forecast & analysis BTC/USD on March 11, 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, we received a weak signal for sell of Bitcoin cryptocurrency, due to crossing of signal lines at the level of 10900.
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 10500, 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 closing below the level of 8100.
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