Bitcoin (BTC/USD) forecast and analysis on January 15, 2018

Cryptocurrency Bitcoin (BTC/USD) is trading at 13351.92. 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 middle border of the Bollinger Bands indicator bars. A test of the level of 14140.80 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 12160.50.

Bitcoin (BTC/USD) forecast and analysis on January 15, 2018

Bitcoin (BTC/USD) forecast and analysis on January 15, 2018

The conservative area for Bitcoin sales is located near the upper boundary of the Bollinger Bands indicator bands at 14150.50. The abolition of the option of continuing Bitcoin fall will be the breakdown of the upper bound of the Bollinger Bands indicator bands, as well as the moving average with a period of 55 and the closing of the pair quotes above the area of ​​15200.60, 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.

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      1. Please, accept my apologies, you were right with you analysis. Bitcoin went much lower than 12.160.50 and your answer makes a lot of sense. I hope you accept my apologies.
        Thank you

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