Bitcoin BTC/USD is trading at 12864. Cryptocurrency is trading below the lower boundary of the Ichimoku Kinko Hyo Cloud, indicating a bearish trend in Bitcoin. Ichimoku Kinko Hyo signal line area test near the level of 14100 is expected, from which it is expected to rebound and attempt to continue falling with the target near 11800.
Bitcoin forecast & analysis BTC/USD on December 25, 2017
Earlier, a strong signal was received for sell of Bitcoin cryptocurrency, by crossing signal lines at 14050 level. breakdown of the upper boundary of the Ichimoku Kinko Hyo Cloud with the closing of quotes above the area of 15200, which will indicate a change of bearish trend in favor of the bullish trend.
Expect to accelerate the fall in the quotations of BTC/USD is at the breakdown of the level of 11700. Do not exclude the formation of the reversal model «Double Bottom», therefore, with a breakdown of the resistance level of 15200, we should expect an attempt to grow into the local maximum area with a potential target near the area of 19700.
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