Cryptocurrency Bitcoin (BTC/USD) is trading at 8157.20. Quotes of the cryptocurrency are traded below the moving average with a period of 55, indicating a bearish trend for Bitcoin. Currently, the cryptocurrency quotes are testing the lower boundary of the Bollinger Bands indicator bars. A test of the level of 8320.50 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 7650.20.
Bitcoin (BTC/USD) forecast and analysis on May 17, 2018
The conservative area for Bitcoin sales is located at the upper border of the Bollinger Bands indicator bars at 8850.20. 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.
