Cryptocurrency Bitcoin (BTC/USD) is trading at 9320.53. 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 middle border of the Bollinger Bands indicator bars. A test of the level 9500.20 is expected, from which one should expect an attempt to continue the fall and further development of the downward trend with a target near the level of 8800.00.
Bitcoin (BTC/USD) forecast and analysis on May 11, 2018
The conservative area for Bitcoin sales is located at the upper border of the Bollinger Bands indicator bars at 9510.50. The abolition of the option of continuing the fall of Bitcoin will be a breakdown of the upper boundary area of the Bollinger Bands indicator strips, as well as a moving average with a period of 55 and the closing of the pair quotes above the area of 9850.20, 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.
