Bitcoin BTC/USD is trading at the level of 7077. The cryptocurrency is trading below the lower boundary of the Ichimoku Kinko Hyo Cloud, indicating a bearish trend in Bitcoin. The test area of Ichimoku Kinko Hyo signal lines near the level of 7200 is expected, from which we should expect a rebound and an attempt to continue the fall of Bitcoin cryptocurrency with a target at 6350.
Bitcoin forecast & analysis BTC/USD August 8, 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.
Cancellation option will reduce the Bitcoin quotations breakdown of the top of a cloud Ichimoku Kinko Hyo with closing quotations above the area 7550 that will indicate the shift bearish trend in favor of a bullish trend and the continued growth of Bitcoin course. Expect to accelerate the fall in quotations BTC/USD is with the breakdown of the support area and the closure below the level of 6750.
Bitcoin forecast & analysis BTC/USD August 8, 2018 suggests an attempt to develop a correction of the cryptocurrency and a 7200 level test, from which it is expected to continue the decline of the Bitcoin exchange rate with a potential target near the level of 6350, the abolition of the decline option will make a strong growth and breakdown of the area of 7550.
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