Bitcoin BTC/USD is trading at 6841. The cryptocurrency is traded below the lower boundary of the Ichimoku Kinko Hyo Cloud, indicating a bearish trend in Bitcoin. The test of the lower boundary of Ichimoku Kinko Hyo Cloud near the area of 7050 is expected, from which we should expect a rebound and an attempt to continue falling with a target at 5800 level.
Bitcoin forecast & analysis BTC/USD April 5, 2018
In favor of falling quotations of cryptocurrency, a resistance level test will perform. Earlier, a weak signal was received for buy of Bitcoin cryptocurrency, due to the crossing of signal lines at 6850 level.
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 7650, 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 bottom of the bullish channel and the closing below the level of 6500.
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