Cryptocurrency Bitcoin (BTC/USD) is trading at 55167. 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 lower border of the Bollinger Bands indicator bars.
Bitcoin (BTC/USD) forecast and analysis on May 12, 2021
As part of the Bitcoin exchange rate forecast, a test of the level of 56760 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 51430. The conservative area for Bitcoin sales is located near the upper border of the Bollinger Bands indicator strip at 60300.
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 60350 area. 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 May 12, 2021 implies a test level of 56760. Further, the fall is expected to continue to the area below the level of 51430. The conservative sales area is located near the 60300 area. Cancellation of the cryptocurrency fall option will be a breakdown of the level of 60350. In this case, we should expect a continuation growth.