Cryptocurrency Bitcoin (BTC/USD) is trading at 8300.04. 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 8430.50 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 7820.50.
Bitcoin (BTC/USD) forecast and analysis on May 23, 2018
The conservative area for Bitcoin sales is located at the upper border of the Bollinger Bands indicator bars at 8580.20. The abolition of the variant of the continuation of Bitcoin fall will be the breakdown of the upper range of the Bollinger Bands indicator bands, as well as the moving average with a period of 55 and the closing of the pair quotations above the area of 8800.20, which indicates 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.