Bitcoin BTC/USD is trading at 9144. The cryptocurrency is trading below the lower boundary of the Ichimoku Kinko Hyo Cloud, indicating a bearish trend in Bitcoin. Ichimoku Kinko Hyo Cloud near the area of 9300 is expected to be tested, from which we should expect a rebound and an attempt to continue the fall of the cryptocurrency with a target at 8400 level.
Bitcoin forecast & analysis BTC/USD May 9, 2018
In favor of falling quotations of the cryptocurrency will test the lower border of the rising channel. Earlier, we received a weak signal for sell of Bitcoin cryptocurrency, due to crossing of signal lines at the level of 9550.
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 quotations above the area of 9700, which will indicate the change of the bearish trend in favor of the bullish trend. Expect the acceleration of the fall in quotes BTC/USD stands with the breakdown of the support area and closing below the level of 8800.
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