Cryptocurrency Bitcoin (BTC/USD) is trading at 8660.99. 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 upper border of the Bollinger Bands indicator bars. A test of level 8800.10 is expected, from which one should expect an attempt to continue the fall and further development of a downward trend with a target close to level 8190.20.
Bitcoin (BTC/USD) forecast and analysis on May 16, 2018
The conservative area for Bitcoin sales is located at the upper border of the Bollinger Bands indicator bands at 8800.20. The abolition of the option of continuing the Bitcoin fall will be the breakdown of the upper boundary 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 9150.20, 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.
