Cryptocurrency Bitcoin (BTC/USD) is trading at 3589. 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 middle border of the Bollinger Bands indicator.
Bitcoin (BTC/USD) forecast and analysis on January 24, 2019
As part of the Bitcoin exchange rate forecast, a test of the level of 3680 is expected. Where should we expect an attempt to continue the fall in BTC/USD and the further development of the downward trend. The purpose of this movement is the area near the level of 3360. The conservative area for selling Bitcoin is located near the upper border of the Bollinger Bands indicator at the level of 3700.
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 3800. This will indicate a change in the current trend in favor of the bullish for BTC/USD. In the event of a breakdown of the lower border of the Bollinger Bands indicator bands, we should expect an acceleration of the fall of the cryptocurrency.
Bitcoin (BTC/USD) forecast and analysis on January 24 2019 implies a test level of 3680. Further, it is expected to continue falling to the area below the level of 3360. The conservative area for selling Bitcoin is located area of 3700. Cancellation of the option of falling cryptocurrency will be a breakdown of the level of 3800. In this case, we can expect continuation growth.
