Cryptocurrency Bitcoin (BTC/USD) is trading at 7364.12. 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 middle border of the Bollinger Bands indicator bars. A test of the level 7650.20 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 6850.20.
Bitcoin (BTC/USD) forecast and analysis on June 1, 2018
The conservative area for Bitcoin sales is located at the upper border of the Bollinger Bands indicator bars at 7660.20. The abolition of the variant of the continuation of Bitcoin fall will be the breakdown of the upper boundary 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 area of 8000.50, which will indicate a change in the trend in favor of the bullish 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.