Bitcoin BTC/USD is trading at 6927. 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 7600 level is expected, from which it is expected to rebound and attempt to continue falling with the target at 4800. An additional signal in favor of the drop will be a resistance level test, as well as a test of the upper boundary of the descending channel.
Bitcoin forecast & analysis BTC/USD on February 7, 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. Canceling the variant of Bitcoin quotations drop will be a breakdown of the upper boundary of Ichimoku Kinko Hyo Cloud with the closing of quotations above the area of 10050, which will indicate the change of the bearish trend in favor of the bullish trend. Expect to accelerate the fall in quotations BTC/USD is with the breakdown of the support area and closing below the level of 5750.
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