Bitcoin BTC/USD is trading at 8574. 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 level of 8650 is expected, from which one should expect a rebound and an attempt to continue the fall of the cryptocurrency with a target at 7650 level.
Bitcoin forecast & analysis BTC/USD May 14, 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.
Canceling 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 9150, 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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