Cryptocurrency Bitcoin (BTC/USD) is trading at 8443.60. 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 8650.20 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 7900.20.
Bitcoin (BTC/USD) forecast and analysis on May 14, 2018
The conservative sales area for Bitcoin is located near the middle border of the Bollinger Bands strip at 8750.00. The abolition of the variant of the continuation of Bitcoin fall will be the breakdown of the mid-range area of the Bollinger Bands indicator strips, as well as the moving average with a period of 55 and the closing of the pair quotations above the area of 9260.00, 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.
