Cryptocurrency Bitcoin (BTC/USD) is trading at 13048.55. 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 the level of 13600.40 is expected, from which one should expect an attempt to continue falling and further development of a downward trend with a target near the level of 11040.50.
Bitcoin (BTC/USD) forecast and analysis on December 31, 2017
The conservative area for Bitcoin sales is located near the upper boundary of the Bollinger Bands indicator bars at 15820.00. The abolition of the option of continuing Bitcoin fall will be the breakdown of the upper range 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 16840.50, 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.
