Cryptocurrency Bitcoin (BTC/USD) is trading at 11325.07. 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 upper border of the Bollinger Bands indicator bars. A test of the level of 11600.50 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 9860.50.
Bitcoin (BTC/USD) forecast and analysis on January 28, 2018
The conservative area for Bitcoin sales is located near the upper boundary of the Bollinger Bands indicator strip at 11650.50. The abolition of the option of continuing 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 quotes above the area of 12500.60, 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.
