Bitcoin BTC/USD is trading at 6037. The cryptocurrency is trading below the lower boundary of the Ichimoku Kinko Hyo Cloud, indicating a bearish trend in Bitcoin. As part of the forecast of the digital currency exchange rate, Ichimoku Kinko Hyo signal line area test is expected near the level of 6150, from which one should expect a rebound and an attempt to continue the fall of Bitcoin cryptocurrency with a target at 5080.
Bitcoin forecast & analysis BTC/USD August 15, 2018
In favor of lowering the quotations of the BTC/USD cryptocurrency, a resistance level test will perform, as well as a test of the upper boundary of the channel. Earlier, a strong signal was received for the sell of Bitcoin cryptocurrency, due to the crossing of signal lines at the level of 6130.
The cancellation of the variant of Bitcoin quotations decrease will be the breakdown of the upper boundary of the Ichimoku Kinko Hyo Cloud with the closing of quotes above the area of 6700, which will indicate a change in the bearish trend in favor of the bullish trend and the continued growth of Bitcoin. Expect to accelerate the fall in quotations BTC/USD is with the breakdown of the support area and closing below the level of 5750.
Bitcoin forecast & analysis BTC/USD August 15, 2018 suggests an attempt to develop a correction of the cryptocurrency and a test of the level of 6150, from which it is expected to continue the decline of the Bitcoin exchange rate with a potential target near the level of 5080, the abolition of the decline option will make a strong growth and breakdown of the 6700 area.