Bitcoin BTC/USD is completing the trading week near the area of 7008. The cryptocurrency is trading below the lower boundary of the Ichimoku Kinko Hyo Cloud, indicating a bearish trend for Bitcoin. The test area of the Ichimoku Kinko Hyo signal lines near 8000 is expected, from which it is expected to attempt a rebound and continue the development of the fall with a target below the 4700 level.
Bitcoin (BTC/USD) forecast April 2 — 6, 2018
An additional signal in favor of the fall will be the test of the upper boundary of the bearish channel, as well as the test of the resistance region. Earlier, a medium strength signal was received for the sell of Bitcoin cryptocurrency, due to the crossing of the 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 9600, which will indicate the change of the bearish trend in favor of the bullish trend. Expect the acceleration of falling quotes is with the breakdown of the support area and closing below the level of 6400.
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