Bitcoin BTC/USD is trading at 8681. The cryptocurrency is traded within the Ichimoku Kinko Hyo Cloud, which indicates a flat trend in Bitcoin. The Ichimoku Kinko Hyo Cloud upper limit test is expected near the 8700 level, from which one should expect a rebound and an attempt to continue falling with a target at 7650. An additional signal in favor of the drop will be a resistance level test. Earlier, a weak signal was received for buy of Bitcoin cryptocurrency, due to the crossing of signal lines at the level of 7500.
Bitcoin forecast & analysis BTC/USD on February 11, 2018
Canceling 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 9400 area, which will indicate a change in the flat trend in favor of the bullish trend. Expect the acceleration of the fall in quotes BTC/USD stands with the breakdown of the lower boundary of the Cloud indicator and closing below the level of 7000.
It is not necessary to exclude the formation of the reversal model «Head and Shoulders». In this case, after a test of the level of 7600 quotes may begin to grow. With the breakdown of the level of the «Neckline» and the closing above 9200, the target of Bitcoin growth will be the area above the level of 12500.
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