Bitcoin BTC/USD completes the trading week near the area of 10403. The cryptocurrency is trading below the lower boundary of the Ichimoku Kinko Hyo Cloud, which indicates a bearish trend in Bitcoin. Ichimoku Kinko Hyo Cloud is expected to test the lower boundary near 11400, 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.
Bitcoin (BTC/USD) weekly forecast February 19 — 23, 2018
An additional signal in favor of the fall will be a test of the upper boundary of the bearish channel, as well as a resistance level test. 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 variant of Bitcoin quotations growth will be the breakdown of the upper boundary of the indicator Cloud and the closing above the level of 13500, 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 level of support and closing below the level of 9000.
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