Cryptocurrency Bitcoin (BTC/USD) is trading at 7307.69. Quotes of the cryptocurrency are traded below the moving average with a period of 55, indicating a bearish trend for Bitcoin. Currently, the cryptocurrency quotes are testing the lower boundary of the Bollinger Bands indicator bars. A test of the level 7400.20 is expected, from which one should expect an attempt to continue falling and further development of a downward trend with a target near the level of 7000.00.
Bitcoin (BTC/USD) forecast and analysis on June 11, 2018
The conservative sales area for Bitcoin is located at the middle of the Bollinger Bands indicator bars at 7600.20. 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 quotations above the 8000.50 area, 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.