Bitcoin BTC/USD is trading at 7505. 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 7600 level is expected, from which one 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 27, 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.
Cancellation of the variant of Bitcoin quotations drop will be a breakdown of the upper boundary of the Ichimoku Kinko Hyo Cloud with the closing of quotations above the area of 8100, 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.
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