Cryptocurrency Bitcoin (BTC/USD) is trading at 14046.58. 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 cryptocurrency quotes test the average border of the Bollinger Bands indicator bars. A test of the level of 14690.20 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 11400.50.
Bitcoin (BTC/USD) forecast and analysis on December 29, 2017
The conservative area for Bitcoin sales is located near the upper boundary of the Bollinger Bands indicator bars at 16120.50. The abolition of the option for continuing Bitcoin fall will be the breakdown of the upper boundary area 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 area of 17080.50, 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.