Cryptocurrency Bitcoin (BTC/USD) is trading at 8118.99. 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 bands of the Bollinger Bands indicator. A test of level 9000.20 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 6800.50.
Bitcoin (BTC/USD) forecast and analysis on February 6, 2018
The conservative area for Bitcoin sales is located near the upper boundary of the Bollinger Bands indicator bars at 9600.50. The abolition of the variant of the continuation of the Bitcoin fall will be the breakdown of the upper boundary area of the Bollinger Bands indicator strips, as well as the moving average with the period of 55 and the closing of the pair quotations above the area of 11100.20, indicating a change in the trend in favor of the bullish 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.
