Bitcoin BTC/USD is trading at 11299. 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 11500 level is expected, from which it is expected to rebound and attempt to continue falling with the target close to 8500. An additional signal in favor of the fall will be the test of the upper boundary of the descending channel.
Bitcoin forecast & analysis BTC/USD on January 20, 2018
Earlier, a strong signal was received for the sell of Bitcoin cryptocurrency, due to the crossing of signal lines at the level of 13200. Canceling the variant of Bitcoin quotations drop will be a breakdown of the upper boundary of Ichimoku Kinko Hyo Cloud with the closing of quotes above the area of 13200, 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.
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