Bitcoin BTC/USD is trading at 6984. 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 near the 7900 level is expected, from which it is expected to rebound and attempt to continue falling with the target at the level of 5100. An additional signal in favor of the drop will be a test of the resistance level, as well as a test of the upper boundary of the bearish channel.
Bitcoin forecast & analysis BTC/USD on February 6, 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 the Ichimoku Kinko Hyo Cloud with the closing of quotations above the area of 10150, which will indicate the change of the bearish 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 bearish channel and the closing below the level of 6400.
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