Bitcoin BTC/USD is trading at 8572. The cryptocurrency is traded 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 level of 8850 is expected, from which we should expect a rebound and an attempt to continue falling of the cryptocurrency with the target at 7700 level.
Bitcoin forecast & analysis BTC/USD May 12, 2018
In favor of falling quotations, the cryptocurrency will perform a resistance level, as well as a test of the upper boundary of the bearish channel. Earlier, we received a weak signal for sell of Bitcoin cryptocurrency, due to crossing of signal lines at the level of 9550.
Cancellation option Bitcoin fall of quotations will sample cloud tops Ichimoku Kinko Hyo with closing quotations above the area 9350 that will indicate the shift bearish trend in favor of an bullish trend and the continued growth of Bitcoin course. Expect to accelerate the fall in quotations BTC/USD is with the breakdown of the support area and the closing below the level of 8400.
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