Bitcoin BTC/USD is trading at the level of 12612. The cryptocurrency is trading below the lower boundary of the Ichimoku Kinko Hyo Cloud, indicating a bearish trend in Bitcoin. The test area of Ichimoku Kinko Hyo signal lines near the level of 13100 is expected, from which we should expect a rebound and an attempt to continue falling with the target close to 11000. In favor of the fall of the cryptocurrency, the formation of the «Head and Shoulders» reversal model appears.
Bitcoin forecast & analysis BTC/USD on January 2, 2018
Earlier, a medium strength signal was obtained for the sell of Bitcoin cryptocurrency, due to the crossing of signal lines at 13750 level. Canceling the variant of Bitcoin quotations drop will be a breakdown of the upper boundary of the Ichimoku Kinko Hyo Cloud with the closing of quotations below the area of 14150, 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 a breakdown of the level of 11800.