Cryptocurrency Bitcoin (BTC/USD) is trading at 7925. 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 stripes.
Bitcoin (BTC/USD) forecast and analysis on March 12, 2020
As part of the Bitcoin exchange rate forecast, a test of the level of 8150 is expected. Where can we expect an attempt to continue the fall of BTC/USD and the further development of the downward trend. The purpose of this movement is the area near the level of 7100. The conservative area for Bitcoin sales is located near the upper border of the Bollinger Bands indicator strip at 8830.
Cancellation of the option to continue the depreciation of Bitcoin will be a breakdown of the upper border of the Bollinger Bands indicator stripes. As well as a moving average with a period of 55 and the closing of quotations of the pair above the area of 8860. This will indicate a change in the current trend in favor of the bullish for BTC/USD. In case of breakdown of the lower border of the Bollinger Bands indicator bands, one should expect acceleration of the fall of the cryptocurrency.
Bitcoin (BTC/USD) forecast and analysis on March 12, 2020 implies a test level of 8150. Further, it is expected to continue falling to the area below the level of 7100. The conservative sales area is near the area of 8830. The breakdown of the cryptocurrency fall option will be the breakdown of the level of 8860. In this case, we should expect further growth.