Cryptocurrency Bitcoin (BTC/USD) is trading at 5512. Cryptocurrency quotes are trading below the moving average with a period of 55. This indicates a bearish trend on Bitcoin. At the moment, cryptocurrency quotes are moving near the middle border of the Bollinger Bands indicator.
As part of the Bitcoin exchange rate forecast, the test is expected at 5600. Where should we expect an attempt to continue the fall of BTC/USD and the further development of the downward trend. The purpose of this movement is the area near the level of 5120. The conservative area for selling Bitcoin is located near the upper border of the Bollinger Bands indicator bars at 5620.
Bitcoin (BTC/USD) forecast and analysis on November 20, 2018
Cancellation of the option to continue the decline in the rate of 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 the 5920 area. This will indicate a change in the current trend in favor of the bullish BTC/USD. In case of a breakdown of the lower border of the Bollinger Bands indicator bands, we should expect an acceleration of the cryptocurrency decline.
Bitcoin (BTC/USD) forecast and analysis on November 20, 2018 suggests a test level of 5600. Further, it is expected to continue falling to the area below the level of 5120. The conservative sales zone is near the 5600 area. In this case one should expect continued growth.
