Bitcoin BTC/USD is trading at the level of 13,677. The cryptocurrency is trading below the lower boundary of the Ichimoku Kinko Hyo Cloud, which indicates a bearish trend in Bitcoin. Ichimoku Kinko Hyo Cloud is expected to test near the level of 13700, from which it is expected to rebound and attempt to continue the fall with the target near 11200. Earlier, a weak signal was received for buy of Bitcoin cryptocurrency, due to crossing of signal lines at 13150 level.
Bitcoin forecast & analysis BTC/USD on January 16, 2018
Cancellation of the variant of Bitcoin quotations drop will be a breakdown of the upper boundary of the Ichimoku Kinko Hyo Cloud with the closing of quotes above the area of 14800, which will indicate the change of the bearish trend in favor of the bullish trend.
Expect to accelerate the fall of quotations BTC/USD stands with the breakdown of the level of the lower border of the model «Triangle» and the closing below 12350. In the event of a breakdown of the upper limit of the model «Triangle», the target is the area at 16250.
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