Bitcoin BTC/USD is closing the trading week near the 7150 area. 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 8000 is expected, from which it is expected to attempt a rebound and continue the development of the fall with a target below the level of 4200.
Bitcoin (BTC/USD) forecast April 9 — 13, 2018
An additional signal in favor of the drop will be a test of the upper boundary of the channel, as well as a resistance level test. Earlier, a medium strength signal was received for the sell of Bitcoin cryptocurrency, 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 9500, which will indicate the change of the bearish trend in favor of the bullish trend. Expect the acceleration of the fall in quotations is with the breakdown of the support area and closing below the level of 6100.