Bitcoin BTC/USD is traded at 7481. 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 7600 is expected, from which we should expect a rebound and an attempt to continue the fall of the cryptocurrency with a target at 6900 level.
Bitcoin forecast & analysis BTC/USD May 26, 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 strong signal was received for sell of Bitcoin cryptocurrency, due to the crossing of signal lines at the level of 8350.
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 8200 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 7300.