Bitcoin BTC/USD completes the trading week near the area of 9338. The cryptocurrency is trading below the lower boundary of the Ichimoku Kinko Hyo Cloud, indicating a bearish trend in Bitcoin. Ichimoku Kinko Hyo Cloud is expected to test the lower boundary near 10000, from which it is expected to attempt a rebound and continue the development of the bearish trend with a target below the level of 6100. An additional signal in favor of the fall is the test of the upper boundary of the bearish channel.
Bitcoin (BTC/USD) forecast February 26 — March 2, 2018
Earlier, a weak signal was received for buy of Bitcoin cryptocurrency, due to the crossing of signal lines at the level of 9000. The cancellation of the growth scenario for Bitcoin quotations will be the breakdown of the upper boundary of the indicator Cloud and the closing above the level of 12000, which will indicate a change in the bearish trend in favor of the bullish trend. Expect the acceleration of falling quotations is with the breakdown of the level of support and closing below the level of 7700.
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