Cryptocurrency Bitcoin (BTC/USD) is trading at 6463.83. Quotes of the cryptocurrency are traded below the level of the moving average with a period of 55, indicating a bearish trend for Bitcoin. At the moment, cryptocurrency quotes are moving near the lower border of the Bollinger Bands indicator bands. A test of the level of 6500.00 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 6250.00.
Bitcoin (BTC/USD) forecast and analysis on October 4, 2018
The conservative sales area for Bitcoin is located near the upper boundary of the Bollinger Bands strip at 6620.00. Cancellation of the option to continue falling Bitcoin will be a breakdown of the upper border area 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 6700.00 area, which will indicate 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.
