Bitcoin BTC/USD is trading at 6,154. The cryptocurrency is traded below the lower boundary of the Ichimoku Kinko Hyo Cloud, indicating a bearish trend in Bitcoin. The test area of the Ichimoku Kinko Hyo signal lines near the level of 6250 is expected, from which one should expect a rebound and an attempt to continue the fall of Bitcoin cryptocurrency with a target at 5850 level.
Bitcoin forecast & analysis BTC/USD July 13, 2018
In favor of lowering the quotations of the BTC/USD cryptocurrency, a resistance level test will perform. Earlier, we received a weak signal for sell of Bitcoin cryptocurrency, due to the crossing of signal lines at 6630 level.
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 6600, which will indicate a change in the lateral trend in favor of the upward trend and the continued growth of Bitcoin. Expect the acceleration of the decline in quotations of BTC/USD and the beginning of the bearish trend is with the breakdown of the support area and the closure below the level of 6050.
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