Cryptocurrency Bitcoin (BTC/USD) is trading at 5466.73. 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 5790.50 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 5080.50.
Bitcoin (BTC/USD) forecast and analysis on October 26, 2017
The conservative area for Bitcoin sales is located near the upper boundary of the Bollinger Bands indicator strip at 6110.20. The abolition of the continuation of the fall of the BTC/USD pair will be the breakdown of the upper boundary of the Bollinger Bands indicator strips, as well as the moving average with a period of 55 and the closing of the pair quotes above the area of 6240.50, indicating a change in the trend in favor of the bullish for Bitcoin. 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.