Bitcoin BTC/USD is completing the trading week near the area of 11341. The cryptocurrency is trading below the lower boundary of the Ichimoku Kinko Hyo Cloud, indicating a bearish trend in Bitcoin. Ichimoku Kinko Hyo Cloud is expected to test the lower boundary near 12000, from which it is expected to attempt a rebound and continue the development of a bearish trend with a target below 6800.
Bitcoin (BTC/USD) weekly forecast January 22 — 26, 2018
An additional signal in favor of the fall is the lower bound of the «Triangle» model. Earlier, a medium strength signal was received for the sell of Bitcoin cryptocurrency, due to the crossing of signal lines at 13400 level. The cancellation of the variant of Bitcoin quotes growth will be the breakdown of the upper boundary of the indicator Cloud and the closing above the level of 15100, 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 level of 10000.
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