Cryptocurrency Bitcoin (BTC/USD) is trading at 10983.56. 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 level 11835.20 is expected, from which one should expect an attempt to continue the fall and further development of a downward trend with a target near the level of 9900.50.
Bitcoin (BTC/USD) forecast and analysis on January 23, 2018
The conservative area for Bitcoin sales is located near the upper boundary of the Bollinger Bands indicator strip at the level of 12530.20. The abolition of the option of continuing Bitcoin fall will be a breakdown of the upper boundary area of the Bollinger Bands indicator strips, as well as a moving average with a period of 55, and the closing of the pair quotes above the area of 13160.50, indicating a change in the bullish trend 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.