Cryptocurrency Bitcoin (BTC/USD) is trading at 7920.00. 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 level 8100.50 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 7450.20.
Bitcoin (BTC/USD) forecast and analysis on May 24, 2018
The conservative area for Bitcoin sales is located at the upper border of the Bollinger Bands indicator bars at 8600.20. The abolition of the option of continuing the fall of Bitcoin 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 8800.50, indicating 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.