Bitcoin BTC/USD is trading at 12837. Cryptocurrency is trading below the lower boundary of the Ichimoku Kinko Hyo Cloud, indicating a bearish trend in Bitcoin. The test area of the Ichimoku Kinko Hyo signal lines near the level of 14000 is expected, from which we should expect a rebound and an attempt to continue the fall with the target near 10500.
Bitcoin forecast & analysis BTC/USD on December 23, 2017
An additional signal in favor of the drop of the cryptocurrency will be a resistance level test. Earlier, a weak signal was received for the sell of Bitcoin cryptocurrency, due to the crossing of signal lines at the level of 17500. The cancellation of the variant of Bitcoin quotations drop will be the breakdown of the upper boundary of the Ichimoku Kinko Hyo Cloud with the closing of quotes above the area of 16500, which will indicate the change of the bearish trend in favor of the bullish trend. Expect the acceleration of the fall in quotes BTC/USD stands with a breakdown of the level of 10800.
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