Bitcoin BTC/USD completes the trading week near the area of 8336. The cryptocurrency is trading below the lower boundary of the Ichimoku Kinko Hyo Cloud, indicating a bearish trend in Bitcoin. Ichimoku Kinko Hyo signal line area near 8800 is expected to be tested, from which it is expected to attempt a rebound and continue the development of the bearish trend with a target below the level of 4500. An additional signal in favor of the drop will come from the upper channel test of the channel, as well as the resistance level test.
Bitcoin (BTC/USD) weekly forecast February 12 — 16, 2018
Earlier, a medium strength signal was obtained for the sell of Bitcoin cryptocurrency, due to the crossing of signal lines at the level of 13400. The cancellation of the variant of Bitcoin quotations growth will be the breakdown of the upper boundary of the Indicator Cloud and the closing above the level of 12500, which will indicate the change of the bearish trend in favor of the bullish trend. Expect the acceleration of falling quotations is with the breakdown of the level of support and closing below the level of 6500.