Cryptocurrency Bitcoin (BTC/USD) is trading at 4368. 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.
Bitcoin (BTC/USD) forecast and analysis on November 22, 2018
As part of the Bitcoin exchange rate forecast, a test level of 4680 is expected. 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 3760. The conservative area for sales of Bitcoin is located near the upper border of the Bollinger Bands indicator strip at 6000.
Cancellation of the option to continue the decline in the rate of Bitcoin will be the breakdown of the area 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 area of 6020. 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.
Thus, Bitcoin (BTC/USD) forecast and analysis on November 22, 2018 implies a test level of 4680. Further, it is expected to continue falling to the area below the level of 3760. The conservative sales zone is near the 6000 area. One should expect continued growth.