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 5750 level.
Bitcoin forecast & analysis BTC/USD July 15, 2018
In favor of lowering the quotations of the BTC/USD cryptocurrency, a resistance level test will perform, as well as a test of the upper bound of the «Triangle» model. 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 a breakdown of the upper boundary of the Ichimoku Kinko Hyo Cloud with the closing of quotes above the area of 6550, which will indicate a change in the bearish trend in favor of the bullish trend and the continued growth of Bitcoin. Expect the acceleration of the fall in quotations BTC/USD stands with the breakdown of the lower limit of the model «Triangle» and the closure below the level of 6050.
