Bitcoin BTC/USD is trading at 6315. The cryptocurrency is traded within the Ichimoku Kinko Hyo Cloud, indicating a flat trend over Bitcoin. The test area of Ichimoku Kinko Hyo signal lines near the level of 6430 is expected, from which we should expect a rebound and an attempt to continue the fall of Bitcoin cryptocurrency with a target at the level of 5950.
Bitcoin forecast & analysis BTC/USD July 12, 2018
In favor of lowering the quotations of the BTC/USD cryptocurrency, a lower limit test of the uplink will be made, as well as a resistance level test. Earlier, we received a weak signal for sell of Bitcoin cryptocurrency, due to the crossing of signal lines at 6630 level.
Canceling the variant of Bitcoin quotations drop will be the breakdown of the upper boundary of the Ichimoku Kinko Hyo Cloud with the closing of quotations above the 6700 area, which will indicate a change in the flat trend in favor of the bullish trend and the continued growth of Bitcoin. Expect to accelerate the fall in the quotations of BTC/USD and the beginning of the bearish trend is due to the breakdown of the lower boundary of the Ichimoku Kinko Hyo Cloud and the closing below the level of 6170.