Bitcoin (BTC/USD) forecast and analysis on October 14, 2018

Cryptocurrency Bitcoin (BTC/USD) is trading at 6196.90. Cryptocurrency quotes are traded below the moving average with a period of 55, which indicates the presence of a bearish trend for Bitcoin. At the moment, cryptocurrency quotes are moving near the middle border of the Bollinger Bands indicator. A test of level 6320.00 is expected, from which one can expect an attempt to continue the fall and further develop the downward trend with a target near the level of 6000.00.

Bitcoin (BTC/USD) forecast and analysis on October 14, 2018

Bitcoin (BTC/USD) forecast and analysis on October 14, 2018

The conservative sales area for Bitcoin is located near the upper boundary of the Bollinger Bands strip at 6580.00. Cancellation of the option to continue falling 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 6600.00, which indicates a change in trend in favor of the bullish BTC/USD In case of a breakdown of the lower border of the Bollinger Bands indicator bands, one should expect an acceleration of the fall.

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