Cryptocurrency Bitcoin (BTC/USD) is trading at 4534.07. Quotations of the pair are traded near the moving average level with a period of 55, which still indicates a bearish trend in the Bitcoin/Dollar. At the moment, the pair quotes are moving near the middle border of the Bollinger Bands indicator bars. An insignificant correction is expected near the level of 4630.50, from which one should expect an attempt to continue the fall and further development of the downward trend with the target near the level of 3950.50.
Bitcoin (BTC/USD) forecast and analysis on September 8, 2017
The conservative sales area Bitcoin Dollar is located near the upper boundary of the Bollinger Bands indicator strip at the level of 4705.50. 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 4910.50, 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.