Cryptocurrency Bitcoin (BTC/USD) is trading at 3533. Cryptocurrency quotes are trading below the moving average with a period of 55. This indicates a bearish trend on Bitcoin. At the moment, cryptocurrency quotes are moving near the upper border of the Bollinger Bands indicator.
Bitcoin (BTC/USD) forecast and analysis on December 11, 2018
As part of the Bitcoin exchange rate forecast, the test level of 3740 is expected. Where should we expect an attempt to continue the fall of BTC/USD and the further development of the downward trend. The purpose of this movement is the area near the level of 2950. The conservative area for sales of Bitcoin is located near the upper border of the Bollinger Bands indicator at the level of 3750.
Cancellation of the option to continue the decline in Bitcoin will be the breakdown of the area of the upper border of the Bollinger Bands indicator. As well as the moving average with a period of 55 and closing of quotations of the pair above the 4100 area. This will indicate a change in the current trend in favor of the bullish on BTC/USD. In case of a breakdown of the lower border of the Bollinger Bands indicator bands, we should expect an acceleration of the cryptocurrency fall.
Bitcoin (BTC/USD) forecast and analysis on December 11, 2018 implies a test level of 3740. Further, it is expected to continue falling to the area below 2950. The conservative area for selling Bitcoin is located area of 3750. Canceling the option of falling cryptocurrency will break the level of 4100. In this case, we should expect continued growth.