Cryptocurrency Bitcoin (BTC/USD) is trading at 12440.37. 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 13150.80 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 10400.50.
Bitcoin (BTC/USD) forecast and analysis on January 1, 2018
The conservative area for Bitcoin sales is located near the upper boundary of the Bollinger Bands indicator bands at 14850.30. The abolition of the variant of the continuation of 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 15800.50, 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.
