Cryptocurrency Bitcoin (BTC/USD) is trading at 8384.70. 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 level 8520.50 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 7900.50.
Bitcoin (BTC/USD) forecast and analysis on May 18, 2018
The conservative area for Bitcoin sales is located at the upper border of the Bollinger Bands indicator bars at 8900.20. The abolition of the option of continuing the Bitcoin fall will be a breakdown of the upper boundary area of the Bollinger Bands indicator strips, as well as a moving average with a period of 55 and the closing of the pair quotations above the 9100.50 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.