Cryptocurrency Bitcoin (BTC/USD) is trading at 8136. 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 October 10, 2019
As part of the Bitcoin exchange rate forecast, a test level of 8400 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 7410. The conservative area for sales of Bitcoin is located near the upper border of the Bollinger Bands indicator strip at the level of 8410.
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 closing of quotations of the pair above the area of 8460. 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 October 10, 2019 implies a test level of 8400. Further, it is expected to continue falling to the area below the level of 7410. The conservative area for selling Bitcoin is located area of 8410. Canceling the option of falling cryptocurrency will be a breakdown of the level of 8460. In this case, we can expect continuation growth.