Bitcoin BTC/USD is trading at 14998. Cryptocurrency is traded below the lower boundary of the Ichimoku Kinko Hyo Cloud, indicating a bearish trend in Bitcoin. The test area of Ichimoku Kinko Hyo signal lines near the level of 15020 is expected, from which we should expect a rebound and an attempt to continue the fall with a target near 12000. An additional signal in favor of the drop of the cryptocurrency will be a resistance level test.
Bitcoin forecast & analysis BTC/USD on December 24, 2017
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 to accelerate the fall in the quotations of BTC/USD with a breakdown of the level of 13000. We should not exclude the formation of the «V-Bottom» reversal model, so with the breakdown of the level 16200, we should expect an attempt to grow into the local maximum area with a potential target near the area of 19500.
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