Cryptocurrency Bitcoin (BTC/USD) is trading at 8323.96. 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 level 8500.20 is expected, from which one should expect an attempt to continue the fall and further development of a downward trend with a target near the level of 7750.00.
Bitcoin (BTC/USD) forecast and analysis on May 13, 2018
The conservative sales area for Bitcoin is located near the middle border of the Bollinger Bands strip at 8960.20. The abolition of the option to continue Bitcoin fall will be the breakdown of the mid-range area of the Bollinger Bands indicator bars, as well as the moving average with a period of 55 and the closing of the pair quotes above the area of 9250.00, 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.