Cryptocurrency Bitcoin (BTC/USD) is trading at 3856. 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.
Bitcoin (BTC/USD) forecast and analysis on March 16, 2019
As part of the Bitcoin exchange rate forecast, the 3880 level test is expected. Where should we expect an attempt to continue the fall in BTC/USD and further development of the downward trend. The purpose of this movement is the area near the level of 3740. The conservative area for sales of Bitcoin is located near the upper border of the Bollinger Bands indicator at the level of 3900.
Cancellation of the option to continue the decline in Bitcoin will be the breakdown of the area of the upper border 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 area of 3950. This will indicate a change in the current trend in favor of the bullish for BTC/USD. In the event of a breakdown of the lower border of the Bollinger Bands indicator bands, we should expect an acceleration of the fall of the cryptocurrency.
Bitcoin (BTC/USD) forecast and analysis on March 16, 2019 implies a test level of 3880. Further, it is expected to continue falling to the area below the level of 3740. The conservative area for selling Bitcoin is located area of 3900. Canceling the option of falling cryptocurrency will be a breakdown of the level of 3950. In this case, we can expect continuation growth.