Cryptocurrency Bitcoin (BTC/USD) is trading at 6411.98. Quotes of the cryptocurrency are traded below the moving average with a period of 55, indicating a bearish trend for Bitcoin. At the moment, the quotes of the cryptocurrency are moving near the lower border of the bands of the Bollinger Bands indicator. A test of level 6600.00 is expected, from which one should expect an attempt to continue falling and further development of a downward trend with a target near the level of 5850.00.
Bitcoin (BTC/USD) forecast and analysis on September 7, 2018
The conservative sales area for Bitcoin is located near the middle border of the Bollinger Bands strip at 7200.00. The abolition of the variant of the continuation of Bitcoin fall will be the breakdown of the mid-range area of the Bollinger Bands indicator strips, as well as the moving average with a period of 55 and the closing of the pair quotes above the 7400.00 area, which will indicate a change in the trend in favor of the bullish for BTC/USD. In the event of a breakdown of the lower boundary of the bands of the Bollinger Bands indicator, it is expected to accelerate the fall.