Cryptocurrency Bitcoin (BTC/USD) is trading at 5725.26. 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 cryptocurrency quotes test the average border of the Bollinger Bands indicator bars. A test of level 5820.50 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 5085.50.
Bitcoin (BTC/USD) forecast and analysis on October 27, 2017
The conservative area for Bitcoin sales is located near the upper boundary of the Bollinger Bands indicator bands at 6010.20. The abolition of the continuation of the fall of the BTC/USD pair will be a breakdown of the upper range of the Bollinger Bands indicator bands, as well as a moving average with a period of 55 and the closing of the pair quotes above the area of 6150.50, 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.