Cryptocurrency Bitcoin (BTC/USD) is trading at 11790.00. 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 are moving near the middle border of the Bollinger Bands indicator bars. A test of level 13000.50 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 9080.50.
Bitcoin (BTC/USD) forecast on January 29 — February 4, 2018
The conservative area for Bitcoin sales is located near the upper boundary of the Bollinger Bands indicator bars at 14900.50. The abolition of the option of continuing the fall of Bitcoin will be a breakdown of the upper boundary area of the Bollinger Bands indicator strips, as well as a moving average with a period of 55 and the closing of quotations of the pair above the 16000.50 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.