Cryptocurrency Bitcoin (BTC/USD) is trading at 7353.44. 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 7620.00 is expected, from which one should expect an attempt to continue the fall and further development of the downward trend with the target near the level of 6400.00.
Bitcoin (BTC/USD) forecast and analysis on August 4, 2018
The conservative area for Bitcoin sales near the upper boundary of the Bollinger Bands indicator bars is at 8100.50. The abolition of the option to continue the 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 quotations above the area of 8400.00, 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.
