Bitcoin BTC/USD is completing the trading week near the area of 7852. 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 test is expected to test near 8800, from which it is expected to attempt a rebound and continue the development of the bearish trend with a target below the level of 5500. An additional signal in favor of the fall will be the test of the upper boundary of the bearish channel.
Bitcoin (BTC/USD) weekly forecast February 5 — 9, 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 13800, 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 level of support and closing below the level of 7000.
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