Cryptocurrency Bitcoin (BTC/USD) is trading at 6622.38. 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 the level of 6790.50 is expected, from which one should expect an attempt to continue falling and further development of the downward trend with the target near the level of 5340.70.
Bitcoin (BTC/USD) forecast and analysis on November 15, 2017
The conservative area for Bitcoin sales is located near the upper boundary of the Bollinger Bands indicator strip at 6880.10. The abolition of the continuation of 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 7130.50, 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.