Cryptocurrency Bitcoin (BTC/USD) is trading at 6362.87. Quotes of the cryptocurrency are traded below the moving average with a period of 55, indicating a bearish trend for Bitcoin. At the moment, the quotes of the cryptocurrency are moving near the lower border of the bands of the Bollinger Bands indicator. A test of the level 6500.20 is expected, from which one should expect an attempt to continue the fall and further development of a downward trend with a target near the level of 5950.20.
Bitcoin (BTC/USD) forecast and analysis on July 12, 2018
The conservative area for Bitcoin sales near the middle border of the Bollinger Bands indicator strip is at 6600.50. The abolition of the variant of the continuation of Bitcoin fall will be the breakdown of the mid-range area of the Bollinger Bands indicator strips, as well as the moving average with a period of 55 and the closing of the pair quotes above the 6700.50 area, indicating a change in the bullish trend for BTC/USD. In the event of a breakdown of the lower boundary of the bands of the Bollinger Bands indicator, it is expected to accelerate the fall.