Cryptocurrency Bitcoin (BTC/USD) is trading at the level of at 3875.11. Quotes of the pair are traded below the moving average with a period of 55, indicating a bearish trend in the Bitcoin/Dollar. At the moment, quotes of the pair test the average border of the bars of the indicator Bollinger Bands. An insignificant correction is expected near the level of 4015.20, from which one should expect an attempt to continue falling and further development of the downward trend with the target near the level of 3220.50.
Bitcoin (BTC/USD) forecast and analysis on August 23, 2017
The conservative sales area Bitcoin/Dollar is located near the upper boundary of the Bollinger Bands indicator strip at the level of 4217.50. The abolition of the continuation of the fall of the BTC/USD pair will be a breakdown of the upper range of the Bollinger Bands indicator bands, as well as a moving average with a period of 55 and the closing of the pair quotes above the area of 4430.50, indicating a change in the trend in favor of the bullish Bitcoin/Dollar. 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.