Cryptocurrency Bitcoin (BTC/USD) is trading at 6432.89. 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 middle border of the Bollinger Bands indicator bars. A test of level 6600.00 is expected, from which one should expect an attempt to continue the fall and further development of the downward trend with the target near the level of 5900.00.
Bitcoin (BTC/USD) forecast and analysis on September 9, 2018
The conservative sales area for Bitcoin is near the upper boundary of the Bollinger Bands indicator strip at 7250.00. The abolition of the option of continuing the Bitcoin fall will be a breakdown of the upper boundary area of the Bollinger Bands indicator strip, as well as a moving average with a period of 55 and the closing of the pair quotes above the area of 7300.00, indicating a change in the bullish trend 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.
