Bitcoin (BTC/USD) forecast and analysis on December 17, 2017

Cryptocurrency Bitcoin (BTC/USD) is trading at 17210.62. Quotes of the cryptocurrency are traded above the moving average with a period of 55, which indicates the existence of a bullish 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 the level of 16450.50 is expected, from which one should expect an attempt to continue growth and further development of an upward trend with a target near the level of 19100.50.

Bitcoin (BTC/USD) forecast and analysis on December 17, 2017

Bitcoin (BTC/USD) forecast and analysis on December 17, 2017

The conservative buying area is near the lower border of the Bollinger Bands indicator strip at 15890.20. The abolition of the option of continuing Bitcoin growth will be the breakdown of the lower border of the Bollinger Bands indicator bands, as well as the moving average with a period of 55 and the closing of the pair quotes below the area of ​​14600.50, indicating a change in the bearish trend for BTC/USD. In the event of breakdown of the upper boundary of the bands of the indicator Bollinger Bands, one should expect an acceleration of growth.

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