Cryptocurrency Bitcoin (BTC/USD) is trading at 8995.83. 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 9200.00 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 8560.20.
Bitcoin (BTC/USD) forecast and analysis on May 12, 2018
The conservative area for Bitcoin sales is located at the upper border of the Bollinger Bands indicator bars at 9500.20. 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 9750.20, 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.
