Cryptocurrency Bitcoin (BTC/USD) is trading at 6388.22. 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, the cryptocurrency quotes are moving near the lower border of the Bollinger Bands indicator bands. The test is expected to level 6432.50, from which one can expect an attempt to continue the fall and further development of the downward trend with a goal near the level of 6260.00.
Bitcoin (BTC/USD) forecast and analysis on October 26, 2018
The conservative sales area for Bitcoin is located near the upper boundary of the Bollinger Bands strip at 6450.00. Cancellation of the option to continue falling Bitcoin will be a 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 6500.00, indicating 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.
