Cryptocurrency Bitcoin (BTC/USD) is trading at 3710. 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 7, 2018
As part of the Bitcoin exchange rate forecast, the test level is expected to be 3850. 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 3200. The conservative area for selling Bitcoin is located near the upper border of the Bollinger Bands indicator at the level of 4100.
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 4250. 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 7, 2018 implies a test level of 3850. Further, it is expected to continue falling to the area below the level of 3200. The conservative area for selling Bitcoin is located area of 4100. The cancellation of the fall option of cryptocurrency will be a breakdown of the level 4250. In this case expect continued growth.