BTC/USD Forecast Fundamental Analysis | Bitcoin / US Dollar
The forecast for the BTC/USD remains bearish in the short term after this cryptocurrency pair reversed its previous sell-off into its Ichimoku Kinko Hyo Cloud, which carries a strengthening bearish bias. While the Kijun-sen remains flat, the Tenkan-sen shows a minor uptrend, suggesting volatility may rise before the next move to the downside. Adding to breakdown pressures is the CCI after moving out of extreme overbought territory with plenty of downside potential. Can bears pressure the BTC/USD into an extension of its sell-of until it can challenge its next horizontal support area?
The forecast for the BTC/USD remains bearish in the short term after this cryptocurrency pair reversed its previous sell-off into its Ichimoku Kinko Hyo Cloud, which carries a strengthening bearish bias. While the Kijun-sen remains flat, the Tenkan-sen shows a minor uptrend, suggesting volatility may rise before the next move to the downside. Adding to breakdown pressures is the CCI after moving out of extreme overbought territory with plenty of downside potential. Can bears pressure the BTC/USD into an extension of its sell-of until it can challenge its next horizontal support area?
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