Bitcoin BTC/USD is trading at 7327. 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 7400 level is expected, from which one should expect a rebound and an attempt to continue falling of the cryptocurrency with a target at the level of 6700.
Bitcoin forecast & analysis BTC/USD May 28, 2018
In favor of falling quotations of the cryptocurrency, the lower bound of the «Triangle» model will perform. 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 8050, 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 7000.
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