Cryptocurrency Bitcoin (BTC/USD) is trading at 3223. 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 lower border of the Bollinger Bands indicator bands.
Bitcoin (BTC/USD) forecast and analysis on December 16, 2018
As part of the Bitcoin exchange rate forecast, a test of 3340 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 2820. The conservative area for sales of Bitcoin is located near the upper border of the Bollinger Bands indicator at the level of 3500.
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 area of 3550. 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 for December 16, 2018 suggests a test level of 3340. Further, it is expected to continue falling to the region below the level of 2820. The conservative area for selling Bitcoin is located area of 3500. Canceling the option of falling cryptocurrency will break the level of 3550. In this case, we should expect continued growth.