Cryptocurrency Bitcoin (BTC/USD) is trading at 16561.62. 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 17240.50 is expected, from which one should expect an attempt to continue falling and further development of the downward trend with the target near the level of 13450.50.
Bitcoin (BTC/USD) forecast and analysis on December 21, 2017
The conservative area for Bitcoin sales is located near the upper boundary of the Bollinger Bands indicator bands at the level of 19800.10. The abolition of the option of continuing 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 quotes above the area of 20860.50, 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.
