Cryptocurrency Bitcoin (BTC/USD) is trading at 8650.58. 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 level 9200.50 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 7500.00.
Bitcoin (BTC/USD) forecast and analysis on March 12, 2018
The conservative area for Bitcoin sales is located at the upper border of the Bollinger Bands indicator bars at 10000.20. The abolition of the option to continue Bitcoin fall will be a breakdown of the upper boundary area of the Bollinger Bands indicator strip, as well as a moving average with a period of 55 and the closing of the pair quotes above 10500.50, 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.