Bitcoin BTC/USD completes the trading week near the area of 5874. The cryptocurrency is trading below the lower boundary of the Ichimoku Kinko Hyo Cloud, indicating a bearish trend in Bitcoin. The test area of Ichimoku Kinko Hyo signal lines near 6300 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 4350.
Bitcoin (BTC/USD) forecast July 2 — 6, 2018
An additional signal in favor of the drop will be a test of the resistance level, as well as a test of the upper boundary of the bearish channel. 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 7800, 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 5500.