Cryptocurrency Bitcoin (BTC/USD) is trading at 5546.18. 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 level test 6050.50 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 4050.70.
Bitcoin (BTC/USD) forecast and analysis on November 13, 2017
The conservative area for Bitcoin sales is located near the upper boundary of the Bollinger Bands indicator strip at 7690.20. 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 7910.50, 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.