Cryptocurrency Bitcoin (BTC/USD) is trading at 7451. 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 stripes.
Bitcoin (BTC/USD) forecast and analysis on October 26, 2019
As part of the Bitcoin exchange rate forecast, a test level of 7700 is expected. Where should 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 6760. The conservative area for Bitcoin sales is located near the upper border of the Bollinger Bands indicator strip at 8500.
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 8520. 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 an acceleration in the fall of cryptocurrency.
Bitcoin (BTC/USD) forecast and analysis on October 26, 2019 implies a test level of 7700. Further, it is expected to continue falling to the area below the level of 6760. The conservative area for selling Bitcoin is located area of 8500. Canceling the option of falling cryptocurrency will be a breakdown of the level of 8520. In this case, we can expect continuation growth.
