Bitcoin BTC/USD is trading at 10653. The cryptocurrency is traded below the lower boundary of the Ichimoku Kinko Hyo Cloud, indicating a bearish trend in Bitcoin. Ichimoku Kinko Hyo Cloud near the 11050 level is expected to be tested near the level of 11050, from which we expect a rebound and an attempt to continue falling with the target at 8700.
Bitcoin forecast & analysis BTC/USD on January 31, 2018
Earlier we received a weak signal for sell of Bitcoin cryptocurrency due to 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 12000, 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 lower limit of the model «Triangle» and closing below the level of 10200.
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