Bitcoin BTC/USD is trading at 8472. The cryptocurrency is traded below the lower boundary of the Ichimoku Kinko Hyo Cloud, indicating a bearish trend in Bitcoin. The test area of the Ichimoku Kinko Hyo signal lines near the area of 8600 is expected, from which we should expect a rebound and an attempt to continue falling with the target at 6700 level.
Bitcoin forecast & analysis BTC/USD on March 20, 2018
In favor of falling quotations of the cryptocurrency, a test of the upper boundary of the bearish channel will perform, as well as a test of the resistance region. Earlier, a strong signal was received for the sell of Bitcoin cryptocurrency, due to the crossing of signal lines at 9100 levels.
Cancellation of 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 9200, 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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