Cryptocurrency Bitcoin (BTC/USD) is trading at 10561.13. 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 12215.60 is expected, from which one should expect an attempt to continue falling and further development of the downward trend with the target near the level of 9640.50.
Bitcoin (BTC/USD) forecast and analysis on January 20, 2018
The conservative area for Bitcoin sales is located near the upper boundary of the Bollinger Bands indicator bars at 12380.30. The abolition of the variant of the continuation of Bitcoin fall will be the breakdown of the upper boundary 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 13560.80, 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.