Bitcoin BTC/USD is trading at 7610. 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 7900 level is expected, from which we should expect a rebound and an attempt to continue the fall of the cryptocurrency with a target at 6800 level.
Bitcoin forecast & analysis BTC/USD May 24, 2018
In favor of falling quotations of cryptocurrency, resistance areas will appear, as well as a test of the upper boundary of the bearish channel. Earlier, a strong signal was received for sell of Bitcoin cryptocurrency, due to the crossing of signal lines at the level of 8350.
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 8550, 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 closing below the level of 7200.
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