Bitcoin BTC/USD is trading at 8304. 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 8700 area is expected, from which it is expected to rebound and attempt to continue falling with a target at 6900 level.
Bitcoin forecast & analysis BTC/USD on March 16, 2018
In favor of falling quotations of cryptocurrency will test the upper limit of the descending channel, as well as a test of the resistance level. Earlier, a strong signal was received for the sell of Bitcoin cryptocurrency, due to the crossing of signal lines at 9100 levels.
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 10100, which will indicate the change of the bearish trend in favor of the bullish trend. Expect the acceleration of the fall in quotations BTC/USD stands with the breakdown of the lower boundary of the bearish channel and the closing below the level of 7000.
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