Cryptocurrency Bitcoin (BTC/USD) is trading at 4838. 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 lower border of the Bollinger Bands indicator bands.
As part of the Bitcoin exchange rate forecast, the test is expected at the level of 5100. 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 4400. The conservative area for selling Bitcoin is located near the upper border of the Bollinger Bands indicator at the level of 5880.
Bitcoin (BTC/USD) forecast and analysis on November 21, 2018
Cancellation of the option to continue the decline in Bitcoin will be the breakdown of the area of the upper border of the Bollinger Bands indicator bars. As well as the moving average with a period of 55 and closing of quotations of the pair above the area of 5900. This will indicate a change in the current trend in favor of the bullish BTC/USD. In the event of a breakdown of the lower border of the Bollinger Bands indicator bands, we should expect an acceleration of the fall of the cryptocurrency.
Bitcoin (BTC/USD) forecast and analysis on November 21, 2018 implies a test level of 5100. The conservative sale zone is near the area of 5400. Canceling the option of falling cryptocurrency will result in a level of 5880. In this case one should expect continued growth.