Bitcoin BTC/USD completes the trading week near the area of 8033. The cryptocurrency is trading below the lower boundary of the Ichimoku Kinko Hyo Cloud, which indicates a bearish trend in Bitcoin. The Ichimoku Kinko Hyo cloud near the 8800 is expected to test near the 8800, from which it is expected to attempt a rebound and continue the development of the fall with a target below the level of 5500.
Bitcoin (BTC/USD) forecast April 16 — 20, 2018
An additional signal in favor of the fall is the resistance level test. Earlier, a medium strength signal was received for the sell of Bitcoin, due to the crossing of signal lines at the level of 9700.
The cancellation of the variant of Bitcoin quotations growth will be the breakdown of the upper boundary of the Indicator Cloud and the closing above the level of 9700, which will indicate the change of the bearish trend in favor of the bullish trend. Expect the acceleration of falling quotations is with the breakdown of the support area and closing below the level of 6000.