Cryptocurrency Bitcoin (BTC/USD) is trading at 3907. Cryptocurrency quotes are trading above the moving average with a period of 55. This indicates a bullish trend on Bitcoin. At the moment, cryptocurrency quotes are moving near the middle border of the Bollinger Bands indicator.
Bitcoin (BTC/USD) forecast and analysis on December 31, 2018
As part of the Bitcoin exchange rate forecast, the test level of 3770 is expected. Where should we expect an attempt to continue BTC/USD growth and further development of the upward trend. The purpose of this movement is the area near the level of 4210. The conservative area for buying of Bitcoin is located near the lower border of the Bollinger Bands indicator bars at the level of 3620.
Cancellation of the option to continue the growth rate of Bitcoin will be the breakdown of the lower border of the Bollinger Bands indicator. As well as the moving average with a period of 55 and closing of quotations of the pair below the area of 3580. This will indicate a change in the current trend in favor of a bearish for BTC/USD. In case of a breakdown of the upper border of the Bollinger Bands indicator bands, one should expect an acceleration of the fall of the cryptocurrency.
Bitcoin BTC/USD forecast for December 31, 2018 implies a test level of 3770. Further growth is expected to continue to the area above the level of 4210. The conservative area for buying Bitcoin is located area of 3620. Cancellation of the growth option of cryptocurrency will be a breakdown of the level of 3580. In this case, we should expect further decline.