Cryptocurrency Bitcoin (BTC/USD) is trading at 6355.17. Cryptocurrency quotes are traded below the moving average with a period of 55, which indicates the presence of a bearish trend for Bitcoin. At the moment, the cryptocurrency quotes are moving near the lower border of the Bollinger Bands indicator bands. A test of the level of 6400.00 is expected, from which one can expect an attempt to continue the fall and further develop the downward trend with a target near the level of 6250.00.
Bitcoin (BTC/USD) forecast and analysis on November 11, 2018
The conservative sales area for Bitcoin is located near the upper boundary of the Bollinger Bands strip at 6550.00. Cancellation of the option to continue falling Bitcoin will be the breakdown of the upper border of the Bollinger Bands indicator, as well as the moving average with a period of 55 and closing of quotations of the pair above 6560.00, which will indicate a change in trend in favor of the bullish for BTC/USD. In case of a breakdown of the lower border of the Bollinger Bands indicator bands, one should expect an acceleration of the fall.