Bitcoin BTC/USD is trading at 8283. The cryptocurrency is traded within the Ichimoku Kinko Hyo Cloud, which indicates a flat trend in Bitcoin. Expected to test the upper boundary of the Cloud Ichimoku Kinko Hyo near the level of 8300, from which we should expect a rebound and an attempt to continue falling with the target at the level of 6700. 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 12, 2018
Canceling the variant of Bitcoin quotations drop will be a breakdown of the upper boundary of Ichimoku Kinko Hyo Cloud with the closing of quotes above the area of 8800, which will indicate the change of 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 indicator Cloud and the closing below the level of 7000.
It is not necessary to exclude the formation of the reversal model «Head and Shoulders». In this case, with the breakdown of the «Neckline» level and the closing above 9200, we should expect the growth of Bitcoin quotations to continue above the level of 12500.
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