Cryptocurrency Bitcoin (BTC/USD) is trading at 6476.49. 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 middle border of the Bollinger Bands indicator bars. A test of the level of 6950.00 is expected, from which one should expect an attempt to continue the fall and further development of a downward trend with a target near the level of 5600.00.
Bitcoin (BTC/USD) forecast and analysis on August 11, 2018
The conservative area for Bitcoin sales near the upper boundary of the Bollinger Bands indicator bars is at 7200.00. The abolition of the option to continue Bitcoin fall will be the breakdown of the upper bound of the Bollinger Bands indicator bands, as well as the moving average with a period of 55 and the closing of the pair quotes above the area of 7500.00, 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.