Cryptocurrency Bitcoin (BTC/USD) is trading at 7075.00. Quotes of the cryptocurrency are traded below the moving average with a period of 55, indicating a bearish trend for Bitcoin. At the moment, the quotes of the cryptocurrency are moving near the upper border of the Bollinger Bands indicator bars. A test of level 7200.50 is expected, from which one should expect an attempt to continue falling and further development of a downward trend with a target near the level of 6380.50.
Bitcoin (BTC/USD) forecast and analysis on April 10, 2018
The conservative area for Bitcoin sales is located at the upper border of the Bollinger Bands indicator bars at 7200.80. The abolition of the option to continue Bitcoin fall will be the breakdown of the upper bound of the Bollinger Bands indicator strips, as well as the moving average with a period of 55, and the closing of the pair quotes above the 7600.50 area, indicating a change in the bullish trend for BTC/USD. In the event of a breakdown of the lower boundary of the bands of the Bollinger Bands indicator, it is expected to accelerate the fall.