Cryptocurrency Bitcoin (BTC/USD) is trading at 12124.47. 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 test the upper boundary of the bands of the indicator Bollinger Bands. A test of the level of 12685.20 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 10740.50.
Bitcoin (BTC/USD) forecast and analysis on January 21, 2018
The conservative area for Bitcoin sales is located near the upper boundary of the Bollinger Bands indicator strip at the level of 12470.50. The abolition of the option of continuing the Bitcoin fall 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 quotations above the 13360.50, area, indicating a change in the bullish trend 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.
