Bitcoin BTC/USD is trading at 6721. The cryptocurrency is trading below the lower boundary of the Ichimoku Kinko Hyo Cloud, indicating a bearish trend in Bitcoin. Ichimoku Kinko Hyo Cloud near the area of 6850 is expected, from which it is expected to rebound and attempt to continue falling with a target at 6000 level.
Bitcoin forecast & analysis BTC/USD April 11, 2018
In favor of falling quotations of cryptocurrency, a resistance area test will perform, as well as a test of the upper bound of the «Triangle» model. The target of the model is the area at the level of 5500. Earlier, a weak signal was received for buy of Bitcoin cryptocurrency, due to the crossing of signal lines at 6850 level.
Canceling the variant of Bitcoin quotations drop will be the breakdown of the upper boundary of Ichimoku Kinko Hyo Cloud with the closing of quotes above the area of 7200, which will indicate the change of the bearish trend in favor of the bullish trend. Expect the acceleration of the fall in quotations BTC/USD stands with the breakdown of the lower boundary of the model «Triangle» and the closing below the level of 6300.
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