Bitcoin BTC/USD is trading at 8238. The cryptocurrency is trading below the lower boundary of the Ichimoku Kinko Hyo Cloud, indicating a bearish trend in Bitcoin. Ichimoku Kinko Hyo Cloud is expected to test near the level of 8350, from which we should expect a rebound and an attempt to continue the fall of the cryptocurrency with a target at the level of 7500.
Bitcoin forecast & analysis BTC/USD May 23, 2018
In favor of falling quotations of the cryptocurrency, the resistance areas will appear, as well as the upper bound of the «Triangle» model. Earlier, a weak signal was received for buy of Bitcoin cryptocurrency, due to the crossing of signal lines at the level of 8300.
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 8750 area, which will indicate a change in the bearish trend in favor of the bullish trend and the continued growth of Bitcoin. Expect the acceleration of the fall in quotations BTC/USD stands with the breakdown of the lower limit of the model «Triangle» and the closing below the level of 8000.
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