Bitcoin BTC/USD is traded at 6683. The cryptocurrency is trading 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 7050 is expected, from which it is expected to rebound and attempt to continue falling with a target at 5850 level.
Bitcoin forecast & analysis BTC/USD March 31, 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, a weak signal was received for the sell of Bitcoin cryptocurrency, due to the crossing of signal lines at the level of 8500.
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 quotations above the 8200 area, 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 lower boundary of the descending channel and the closing below the level of 6200.