Bitcoin BTC/USD completes the trading week near the area of 9488. The cryptocurrency is traded within the Ichimoku Kinko Hyo Cloud, which indicates a flat trend for Bitcoin. The test area of Ichimoku Kinko Hyo signal lines near 10500 is expected, from which it is expected to attempt a rebound and continue the development of the fall with a target below the level of 5700.
Bitcoin (BTC/USD) weekly forecast on March 12 — 16, 2018
An additional signal in favor of the drop will be a test of the upper boundary of the channel, as well as a resistance level test. Earlier, a medium strength signal was received for the sell of Bitcoin cryptocurrency, due to the crossing of signal lines at the level of 9700.
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 12000, which will indicate a change in the flat trend in favor of the bullish trend. Expect to accelerate the fall of quotations is with the breakdown of the lower boundary of the Cloud of the indicator and the closing below the level of 8000, which will indicate the resumption of the bearish trend for Bitcoin.