Bitcoin BTC/USD is trading at 8488. The cryptocurrency is trading 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 8700 level is expected, from which we should expect a rebound and an attempt to continue the fall of the cryptocurrency with a target at 7600 level.
Bitcoin forecast & analysis BTC/USD May 13, 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 sales of Bitcoin cryptocurrency, due to crossing of signal lines at the level of 9550.
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 9250, which will indicate a change in the bearish trend in favor of the bullish trend and the continued growth of Bitcoin. Expect to accelerate the fall in quotes BTC/USD is with the breakdown of the support area and the closing below the level of 8200.
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