Cryptocurrency Bitcoin (BTC/USD) is trading at 10696.18. 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 of 10100.50 is expected, from which one should expect an attempt to continue falling and further development of the downward trend with the target near the level of 9600.50.
Bitcoin (BTC/USD) forecast and analysis on March 8, 2018
The conservative area for Bitcoin sales is located at the upper boundary of the Bollinger Bands indicator bands at 10700.50. The abolition of the variant of the continuation of 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 12200.50 area, 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.