Cryptocurrency Bitcoin (BTC/USD) is trading at 7497.01. 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 upper border of the Bollinger Bands indicator bars. A test of the level of 7630.50 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 6950.20.
Bitcoin (BTC/USD) forecast and analysis on May 31, 2018
The conservative area for Bitcoin sales is located at the upper border of the Bollinger Bands indicator bars at 7640.20. The abolition of the option to continue Bitcoin fall will be the breakdown of the upper border 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 8020.50, 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.