Bitcoin BTC/USD is traded at 6238. 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 6300 is expected, from which we 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 14, 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 6590, which will indicate a change in the bearish trend in favor of the bullish trend and the continued growth of Bitcoin. Expect to accelerate the fall in quotes BTC/USD is with the breakdown of the support area and closing below the level of 6050.
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