Bitcoin BTC/USD is trading at 6578. 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 6800 is expected, from which we should expect a rebound and an attempt to continue falling with the target at the level of 5700.
Bitcoin forecast & analysis BTC/USD April 7, 2018
In favor of falling quotations of the cryptocurrency will test the lower border of the bullish channel. Earlier, a strong signal was received for sell 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 quotations above the area of 7500, 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 the breakdown of the support area and closing below the level of 5800.
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