Cryptocurrency Bitcoin (BTC/USD) is trading at 4491.77. Quotes of the pair are traded below the moving average with a period of 55, indicating a bearish trend in the Bitcoin/Dollar. At the moment, quotes of the pair test the average border of the bands of the indicator Bollinger Bands. An insignificant correction is expected near the level of 4570.50, where we can expect an attempt to continue the fall and further development of the downward trend with the target near the level of 3920.50.
Bitcoin (BTC/USD) forecast and analysis on September 7, 2017
The conservative sales area Bitcoin/Dollar is located near the upper boundary of the Bollinger Bands indicator strip at the level of 4760.70. 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 4970.40, indicating a change in the trend in favor of the bullish Bitcoin/Dollar. 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.
