Cryptocurrency Bitcoin (BTC/USD) is trading at 7539.21. Quotes of the cryptocurrency are traded below the moving average with a period of 55, indicating a bearish trend for Bitcoin. Currently, the cryptocurrency quotes are testing the lower boundary of the Bollinger Bands indicator bars. A test of the level of 7750.00 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 6750.00.
Bitcoin (BTC/USD) forecast and analysis on August 2, 2018
The conservative area for Bitcoin sales near the middle border of the Bollinger Bands indicator bars is at 8100.00. The abolition of the variant of the continuation of the Bitcoin fall will be the breakdown of the mid-range area of the Bollinger Bands indicator strip, as well as the moving average with a period of 55 and the closing of the pair quotes above the area of 8500.00, 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.
