Bitcoin BTC/USD is trading at 8984. The cryptocurrency is trading below the lower boundary of the Ichimoku Kinko Hyo Cloud, indicating a bearish trend in Bitcoin. Ichimoku Kinko Hyo Cloud near the area of 9450 is expected, from which we should expect a rebound and an attempt to continue falling with a target at 7450 level.
Bitcoin forecast & analysis BTC/USD on March 14, 2018
In favor of falling quotations of cryptocurrency will test the upper limit of the bearish channel, as well as the formation of the «Head and Shoulders» model. Earlier, a weak signal was received for buy of Bitcoin cryptocurrency, due to crossing of signal lines at 9100 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 quotations above the area of 10100, 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 support area and closing below the level of 8500.