Bitcoin BTC/USD is traded at 6430 and continues to move within the correction. The cryptocurrency is trading below the lower boundary of the Ichimoku Kinko Hyo Cloud, indicating a bearish trend in Bitcoin. As part of the Bitcoin forecast & analysis BTC/USD September 8, 2018, the Ichimoku Kinko Hyo signal line area test is expected near the level of 6650, from which we expect a rebound and an attempt to continue the fall of cryptocurrency with a target at 5850.
Bitcoin forecast & analysis BTC/USD September 8, 2018
In favor of lowering the quotations of the BTC/USD cryptocurrency, a resistance area test will perform, as well as a rebound from the upper boundary of the bearish channel. Earlier, a weak signal was received for the sell of Bitcoin cryptocurrency, due to the crossing of signal lines at the level of 7050.
The cancellation of the variant of Bitcoin quotations decrease will be the breakdown of the upper boundary of the Ichimoku Kinko Hyo Cloud with the closing of quotations above the area of 6950, 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 quotes BTC/USD is with the breakdown of the support area and closing below the level of 6150.
Bitcoin forecast & analysis BTC/USD September 8, 2018 suggests an attempt to correct the cryptocurrency and the resistance level test near the area of 6650, from which it is expected to continue the decline of the Bitcoin exchange rate with a potential target near the level of 5850, the abolition of the decline option will be a strong growth and breakdown of the area 6950, which will indicate the resumption of the upward trend and the continuation of growth.
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