Cryptocurrency Bitcoin (BTC/USD) is trading at 4538. 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.
Bitcoin (BTC/USD) forecast and analysis on November 23, 2018
As part of the Bitcoin exchange rate forecast, a test level of 4750 is expected. Where should we expect an attempt to continue the fall in BTC/USD and the further development of the downward trend. The aim of this movement is the area near the level of 3850. The conservative area for selling Bitcoin is located near the upper border of the Bollinger Bands indicator at the level of 5500.
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 5600. This will indicate a change in the current trend in favor of a 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 23, 2018 implies a test level of 4750. Further, it is expected to continue falling to an area below 3850. The conservative area for selling Bitcoin is located area of 5500. In this case expect continued growth.
