Cryptocurrency Bitcoin (BTC/USD) is trading at 6057.66. 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 6310.50 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 5050.70.
Bitcoin (BTC/USD) forecast and analysis on November 14, 2017
The conservative area for Bitcoin sales is located near the upper boundary of the Bollinger Bands indicator strip at 7350.80. The abolition of the option of continuing Bitcoin fall will be the breakdown of the upper range 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 7580.50, indicating 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.