Bitcoin BTC/USD is trading at 6312. The cryptocurrency is trading below the lower boundary of the Ichimoku Kinko Hyo Cloud, indicating a bearish trend in Bitcoin. Ichimoku Kinko Hyo Cloud is expected to test near the level of 6420, from which we expect a rebound and an attempt to continue the fall of Bitcoin’s crypto currency with a target at 5550.
Bitcoin forecast & analysis BTC/USD August 13, 2018
In favor of lowering the quotations of the BTC/USD cryptocurrency, a resistance level test will perform, as well as a test of the upper boundary of the channel. Earlier, a weak signal was received for sell of Bitcoin cryptocurrency, due to the crossing of signal lines at 8050 level.
The cancellation of the variant of Bitcoin quotations decrease will be the breakdown of the upper boundary of the Ichimoku Kinko Hyo Cloud with the closing of quotations above the area of 6950, which will indicate a change in the bearish trend in favor of the bullish trend and the continued growth of Bitcoin. Expect the acceleration of the fall in quotes BTC/USD stands with the breakdown of the lower boundary of the model «Triangle» and closing below the level of 5900.
Bitcoin forecast & analysis BTC/USD August 13, 2018 suggests an attempt to develop a correction of the cryptocurrency and a test of the level of 6420, from which it is expected to continue the decline of the Bitcoin exchange rate with a potential target near the level of 5550, the abolition of the decline option will make a strong growth and breakdown of the area 6950.
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