Cryptocurrency Bitcoin (BTC/USD) is trading at 6707.10. 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 lower border of the Bollinger Bands indicator bars. A test of level 8000.20 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 3900.20.
Bitcoin (BTCUSD) weekly forecast on April 2 — 8, 2018
The conservative area for Bitcoin sales is located at the upper border of the Bollinger Bands indicator bands at the level of 9900.50. The abolition of the option to continue Bitcoin fall will be a breakdown of the upper boundary area of the Bollinger Bands indicator strip, as well as a moving average with a period of 55 and the closing of the pair quotes above 10500.50, 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.