Cryptocurrency Bitcoin (BTC/USD) is trading at 7415.86. 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 of 7600.00 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 7150.20.
Bitcoin (BTC/USD) forecast and analysis on June 6, 2018
The conservative area for Bitcoin sales is located at the upper border of the Bollinger Bands indicator bars at 7800.00. 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.