Bitcoin BTC/USD is trading at 6503. The cryptocurrency is traded below the upper limit of the Ichimoku Kinko Hyo Cloud, indicating a bearish trend in Bitcoin. The test area of the Ichimoku Kinko Hyo signal lines near the level of 6600 is expected, from which we should expect a rebound and an attempt to continue the fall of the cryptocurrency with a target at 5850 level.
Bitcoin forecast & analysis BTC/USD June 16, 2018
In favor of falling quotations of cryptocurrency, the upper bound of the bearish channel will test, as well as the «Triangle» model boundary test. Earlier, a weak signal was received for the sell of Bitcoin cryptocurrency, due to the crossing of the signal lines at the level of 7550.
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 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 quotations BTC/USD stands with the breakdown of the lower boundary of the model «Triangle» and the closing below the level of 6200.
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