Bitcoin BTC/USD is trading at 7815. 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 area of 8100 is expected, from which it is expected to rebound and attempt to continue falling with a target at 6800 level.
Bitcoin forecast & analysis BTC/USD on March 18, 2018
In favor of falling quotations of cryptocurrency, a downtrend line test will perform, as well as a resistance level test. 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 quotations above the area of 9700, which will indicate the change of the bearish trend in favor of the bullish trend. Expect to accelerate the fall in quotes BTC/USD is with the breakdown of the support area and closing below the level of 7300.
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