Cryptocurrency Bitcoin (BTC/USD) is trading at 3704. Cryptocurrency quotes are trading below the moving average with a period of 55. This indicates a bearish trend on Bitcoin. At the moment, the cryptocurrency quotes are moving near the lower border of the Bollinger Bands indicator bands.
Bitcoin (BTC/USD) forecast and analysis on November 28, 2018
As part of the Bitcoin exchange rate forecast, the test level of 3950 is expected. Where should we expect an attempt to continue the fall of BTC/USD and further development of the downward trend. The aim of this movement is the area near the level of 3100. The conservative area for selling Bitcoin is located near the upper border of the Bollinger Bands indicator at the level of 4400.
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 4500. 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 28, 2018 implies a test level of 3950. Further, it is expected to continue falling to the area below the level of 3100. The conservative area for selling Bitcoin is located area of 4400. Canceling the option of falling cryptocurrency will result in the level of 4500. In this case, we can expect continued growth.
