Bitcoin BTC/USD is traded at the level of 8520. The cryptocurrency is traded below the lower boundary of the Ichimoku Kinko Hyo Cloud, which indicates a bearish trend in Bitcoin. Ichimoku Kinko Hyo Cloud is expected to test near the 8700 level, from which it is expected to rebound and attempt to continue falling with a target at 6400. An additional signal in favor of the drop will be a resistance level test, as well as a test of the upper boundary of the bearish channel.
Bitcoin forecast & analysis BTC/USD on February 10, 2018
Earlier, a weak signal was received for buy of Bitcoin cryptocurrency, due to the crossing of signal lines at the level of 7500. Cancellation of the variant of Bitcoin quotations drop will be a breakdown of the upper boundary of the Ichimoku Kinko Hyo Cloud with the closing of quotes above the area of 9700, 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 support area and closing below the level of 7500.
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