Bitcoin BTC/USD is trading at 8423. The cryptocurrency is traded within the Ichimoku Kinko Hyo Cloud, indicating a flat trend over Bitcoin. Ichimoku Kinko Hyo Cloud is expected to be tested near the area of 8800, from which it is expected to rebound and attempt to continue falling with the target at 7050 level.
Bitcoin forecast & analysis BTC/USD on March 21, 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, we received a weak signal for the buy of Bitcoin cryptocurrency, due to the crossing of the signal lines at the level of 7700.
Canceling 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 9100, which will indicate a change in the flat 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 Cloud Ichimoku Kinko Hyo and the closing below the level of 8000.
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