Cryptocurrency Bitcoin (BTC/USD) is trading at 10313.42. 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 level 11500.50 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 9080.50.
Bitcoin (BTC/USD) forecast and analysis on January 18, 2018
The conservative area for Bitcoin sales is located near the middle border of the Bollinger Bands indicator strip at the level of 12480.70. The abolition of the variant of the continuation of Bitcoin fall will be the breakdown of the mid-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 quotations above the area of 13850.50, 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.
