Cryptocurrency Bitcoin (BTC/USD) is trading at 8414.06. Quotes of the cryptocurrency are traded below the moving average with a period of 55, indicating a bearish trend for Bitcoin. At the moment, the quotes of the cryptocurrency are moving near the lower border of the bands of the Bollinger Bands indicator. A test of the level of 9450.20 is expected, from which one should expect an attempt to continue falling and further development of a downward trend with a target near the level of 6800.20.
Bitcoin (BTC/USD) forecast and analysis on February 4, 2018
The conservative area for Bitcoin sales is located near the upper boundary of the Bollinger Bands indicator strip at 10800.20. The abolition of the option to continue Bitcoin fall will be the breakdown of the upper boundary area of the Bollinger Bands indicator strips, as well as the moving average with a period of 55 and the closing of the pair quotes above the 11,100.50 area, indicating a change in the bullish trend for BTC/USD. In the event of a breakdown of the lower boundary of the bands of the Bollinger Bands indicator, it is expected to accelerate the fall.