Bitcoin (BTC/USD) forecast and analysis on December 11, 2020

Cryptocurrency Bitcoin (BTC/USD) is trading at 18484. Cryptocurrency quotes are trading below the moving average with a period of 55. This indicates a bearish trend on Bitcoin. At the moment, cryptocurrency quotes are moving near the middle border of the Bollinger Bands indicator bars.

Bitcoin (BTC/USD) forecast and analysis on December 11, 2020

As part of the Bitcoin exchange rate forecast, a test of the level of 18780 is expected. Where can we expect an attempt to continue the fall in BTC/USD and the further development of the downward trend. The purpose of this movement is the area near the level of 17420. The conservative area for Bitcoin sales is located near the upper border of the Bollinger Bands indicator bars at 19600.

Bitcoin (BTC/USD) forecast and analysis on December 11, 2020

Cancellation of the option to continue the decline in the Bitcoin rate will be a breakdown of the upper border of the Bollinger Bands indicator bars. As well as the moving average with a period of 55 and the closing of quotations of the pair above the 19720 area. This will indicate a change in the current trend in favor of the bullish for BTC/USD. In case of a breakdown of the lower border of the Bollinger Bands indicator bars, we should expect an acceleration of the fall of the cryptocurrency.

Bitcoin (BTC/USD) forecast and analysis on December 11, 2020 implies a test level of 18780. Further, the fall is expected to continue to the area below the level of 17420. The conservative sales area is near the 19600 area. Cancellation of the cryptocurrency fall option will be a breakdown of the level of 19720. In this case, it is expect continued growth.


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