Cryptocurrency Bitcoin (BTC/USD) is trading at 6817.71. Quotes of the cryptocurrency are traded below the moving average with a period of 55, indicating a bearish trend for Bitcoin. Currently, the cryptocurrency quotes are testing the lower boundary of the Bollinger Bands indicator bars. A test of level 7250.20 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 5800.20.
Bitcoin (BTC/USD) forecast and analysis on March 31, 2018
The conservative area for Bitcoin sales is located at the upper border of the Bollinger Bands indicator bars at 8300.50. The abolition of the option of continuing 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 9000.50 area, 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.
