Cryptocurrency Bitcoin (BTC/USD) is trading at 6387.00. 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 upper border of the Bollinger Bands indicator. The test is expected at the level of 6450.00, from which one can expect an attempt to continue the fall and further develop the downward trend with a target near the level of 6100.00.
Bitcoin (BTC/USD) forecast and analysis on October 21, 2018
The conservative sales area for Bitcoin is near the upper boundary of the Bollinger Bands indicator strip at 6480.00. 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 for 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.
