Bitcoin BTC/USD is traded at 7891. 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 8200 area is expected, from which it is expected to rebound and attempt to continue falling with a target at 6500 level.
Bitcoin forecast & analysis BTC/USD on March 29, 2018
In favor of falling quotations of crypto currency, a test of the resistance area 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.
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 8700 area, which will indicate the change of the bearish trend in favor of the bullish trend. Expect to accelerate the fall in quotations BTC/USD is the breakdown of the bottom of the model «Triangle» and closing below the level of 7500.