Cryptocurrency Bitcoin (BTC/USD) is trading at 5565.01. 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, cryptocurrency quotes are moving near the lower border of the Bollinger Bands indicator bands. A test of the level of 5750.00 is expected, from which one can expect an attempt to continue to fall and further develop the downward trend with a target near the level of 5150.00.
Bitcoin (BTC/USD) forecast and analysis on November 16, 2018
The conservative area for Bitcoin sales is near the middle border of the Bollinger Bands indicator at 6200.00. Cancellation of the option to continue falling Bitcoin will be the breakdown of the area of the middle 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 the area of 6300.00, which indicates 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.
