Cryptocurrency Bitcoin (BTC/USD) is trading at 6783.55. 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 7000.00 is expected, from which one should expect an attempt to continue falling and further development of the downward trend with the target near the level of 6400.00.
Bitcoin (BTC/USD) forecast and analysis on June 12, 2018
The conservative sales area for Bitcoin is located at the middle of the Bollinger Bands indicator bars at 7400.20. The abolition of the option to continue Bitcoin fall will be a breakdown of the mid-range area of the Bollinger Bands indicator bars, as well as a moving average with a period of 55 and the closing of the pair quotes above the 7600.50 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.