Cryptocurrency Bitcoin (BTC/USD) is trading at 13375.94. 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 the level of 14215.80 is expected, from which one should expect an attempt to continue the fall and further development of the downward trend with the target near the level of 12000.50.
Bitcoin (BTC/USD) forecast and analysis on January 12, 2018
The conservative area for Bitcoin sales is located near the upper boundary of the Bollinger Bands indicator strip at 15400.80. The abolition of the option of continuing the fall of the Bitcoin will be the breakdown of the lower border area of the Bollinger Bands indicator strips, as well as the moving average of the period of 55 and the close of the pair quotes above the 16200.60 area, indicating a change in the bullish trend for BTC/USD. In the event of a breakdown of the lower boundary of the Bollinger Bands indicator, it is expected to accelerate the fall.
