Cryptocurrency Bitcoin (BTC/USD) is trading at 6307.47. 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 are moving near the lower border of the bands of the Bollinger Bands indicator. A test of the level of 7000.00 is expected, from which one should expect an attempt to continue the fall and further development of a downward trend with a target near the level of 4800.00.
Bitcoin (BTCUSD) weekly forecast on August 13 — 19, 2018
The conservative area for Bitcoin sales near the upper boundary of the Bollinger Bands indicator bars is at 8800.50. The cancellation of the variant of the continuation of the Bitcoin fall 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 the pair quotes above the 9000.00 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.
