Bitcoin BTC/USD is trading at the level of 11498. 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 level of 11800, from which it is expected to rebound and attempt to continue falling with the target close to 9100.
Bitcoin forecast & analysis BTC/USD on January 19, 2018
An additional signal in favor of the fall will be the test of the upper boundary of the bearish channel. Earlier, a strong signal was received for the sell of Bitcoin cryptocurrency, due to the crossing of signal lines at the level of 13200.
Also in favor of the decline is the formation of the bearish model «Wolfe Wave». The target of the model is the area at the level of 9800.
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 quotes above the area of 13500, 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 a breakdown of the level of 9800.
Looking for the Best Forex Broker? We trade at RoboForex. You can receive a rebates from each trade when registering using our partner link
