Cryptocurrency Bitcoin (BTC/USD) is trading at 7621.99. 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 7750.20 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 7100.50.
Bitcoin (BTC/USD) forecast and analysis on May 25, 2018
The conservative sales area for Bitcoin is located near the middle border of the Bollinger Bands bars at 8120.50. The abolition of the variant of the continuation of Bitcoin fall will be the breakdown of the mid-range area of the Bollinger Bands indicator bars, 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.
