Cryptocurrency Bitcoin (BTC/USD) is trading at 6963.95. 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 7300.00 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 6200.00.
Bitcoin (BTC/USD) forecast and analysis on August 6, 2018
The conservative area for Bitcoin sales near the upper boundary of the Bollinger Bands indicator bars is at 7760.00. The abolition of the variant of the continuation of Bitcoin fall will be the breakdown of the upper border 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 8000.00, which will indicate a change in the trend in favor of the bullish 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.
