Bitcoin BTC/USD completes the trading week near the area of 7359. The cryptocurrency is trading below the lower boundary of the Ichimoku Kinko Hyo Cloud, which indicates a bearish trend in Bitcoin. The test area of Ichimoku Kinko Hyo signal lines near 8900 is expected, from which it is expected to attempt a rebound and continue the development of the fall with a target below the 4500 level.
Bitcoin (BTC/USD) forecast on March 19 — 23, 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 10500, which will indicate the change of the bearish trend in favor of the bullish trend. Expect the acceleration of falling quotations is with the breakdown of the support area and closing below the level of 6000.
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