Bitcoin BTC/USD completes the trading week near area 11335. The cryptocurrency is traded within the Ichimoku Kinko Hyo Cloud, which indicates a flat trend for Bitcoin. The Ichimoku Kinko Hyo Cloud upper test is expected near 11600, from which it is expected to attempt a rebound and continue the development of the fall with a target below the level of 8300.
Bitcoin (BTC/USD) weekly forecast March 5 — 9, 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 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 12000, which will indicate a change in the flat trend in favor of the bullish trend. Expect to accelerate the fall of quotations is with the breakdown of the lower boundary of the indicator Cloud and the closing below the level of 8000.
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