Cryptocurrency Bitcoin (BTC/USD) is trading at 8380.10. 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 Bollinger Bands indicator bars. A test of the level of 8800.50 is expected, from which one should expect an attempt to continue falling and further development of the downward trend with a target near the level of 7000.50.
Bitcoin (BTC/USD) forecast and analysis on March 24, 2018
The conservative area for Bitcoin sales is located at the upper border of the Bollinger Bands indicator bars at 9100.20. The abolition of the option to continue Bitcoin fall will be the breakdown of the upper border 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 area of 9400.50, 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.