Cryptocurrency Bitcoin (BTC/USD) is trading at 10819.45. 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 bands of the Bollinger Bands indicator. A test of the level 11400.50 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 9900.40.
Bitcoin (BTC/USD) forecast and analysis on January 31, 2018
The conservative area for Bitcoin sales is located near the upper boundary of the Bollinger Bands indicator bars at 11970.20. The abolition of the continuation of the Bitcoin fall will be the breakdown of the upper range 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 12400.50 area, which indicates 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.
