Bitcoin BTC/USD is traded at the level of 7511. The cryptocurrency is trading below the lower boundary of the Ichimoku Kinko Hyo Cloud, which indicates a bearish trend in Bitcoin. The test area of Ichimoku Kinko Hyo signal lines near the area of 7800 is expected, from which it is expected to rebound and attempt to continue falling with a target at 6000 level.
Bitcoin forecast & analysis BTC/USD on March 19, 2018
In favor of falling quotations of cryptocurrency, a downtrend test will perform, as well as a resistance area 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 quotes above the area of 9300, 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 support area and closing below the level of 7100.
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