Cryptocurrency Bitcoin (BTC/USD) is trading at 6770.18. 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 lower border of the Bollinger Bands indicator bars. A test of level 7050.20 is expected, from which one should expect an attempt to continue the fall and further development of a downward trend with a target near the level of 6000.50.
Bitcoin (BTC/USD) forecast and analysis on April 7, 2018
The conservative area for Bitcoin sales is located at the upper border of the Bollinger Bands indicator bars at 7600.20. The abolition of the option to continue Bitcoin fall will be a breakdown of the upper boundary area of the Bollinger Bands indicator strips, as well as a moving average with a period of 55 and the closing of the pair quotations above the 8000.20 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.
