Bitcoin BTC/USD is trading at 8806. The cryptocurrency is traded below the lower boundary of the Ichimoku Kinko Hyo Cloud, indicating a bearish trend in Bitcoin. Ichimoku Kinko Hyo signal line area test is near the 9250 level, from which it is expected to rebound and attempt to continue falling with a target at 7100. An additional signal in favor of the drop will be a resistance level test.
Bitcoin forecast & analysis BTC/USD on February 3, 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 boundary of Ichimoku Kinko Hyo Cloud with the closing of quotations above the area of 10800, 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 lower boundary of the descending channel and closing below the level of 6500.
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