Bitcoin BTC/USD is completing the trading week near the area of 11595. The cryptocurrency is trading below the lower boundary of the Ichimoku Kinko Hyo Cloud, indicating a bearish trend in Bitcoin. The Ichimoku Kinko Hyo signal line area is expected to test near 11800, from which it is expected to attempt a rebound and continue the development of a bearish trend with a target below 8000. An additional signal in favor of the fall is the upper bound test of the «Triangle» model.
Bitcoin (BTC/USD) forecast January 29 — February 2, 2018
Earlier, a medium strength signal was obtained for the sell of Bitcoin cryptocurrency, due to the crossing of signal lines at the level of 13400. 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 15000, which will indicate the change of the bearish trend in favor of the bullish trend. Expect to accelerate the fall of quotations is with the breakdown of the lower boundary of the model «Triangle» and closing below the level of 9800.
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