Cryptocurrency Bitcoin (BTC/USD) is trading at 12967.64. Quotes of the currency are traded below the moving average with a period of 55, indicating a bearish trend for Bitcoin. At the moment, the quotes of the crypto currency are moving near the middle border of the Bollinger Bands indicator bars. A test of the level of 13650.20 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 11500.50.
Bitcoin (BTC/USD) forecast and analysis on January 16, 2018
The conservative area for Bitcoin sales is located near the upper boundary of the Bollinger Bands indicator bars at 14040.80. The abolition of the option of continuing the fall of Bitcoin will be the breakdown of the upper boundary 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 15300.80, which indicates 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.