Bitcoin BTC/USD is trading at 9208. The cryptocurrency is trading below the lower boundary of the Ichimoku Kinko Hyo Cloud, indicating a bearish trend in Bitcoin. Ichimoku Kinko Hyo signal line area test near the 9550 level is expected, from which it is expected to rebound and attempt to continue falling with the target at 7800. An additional signal in favor of the drop will be a resistance level test.
Bitcoin forecast & analysis BTC/USD on February 2, 2018
Earlier, a weak signal was received for the sell of Bitcoin cryptocurrency, due to the crossing of signal lines at the level of 10850. The cancellation of the variant of Bitcoin quotations drop will be the breakdown of the upper Ichimoku Kinko Hyo Cloud with the closing of quotes above the area of 11300, 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 level of support and closing below the level of 8500.
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