Cryptocurrency Bitcoin (BTC/USD) is trading at 6959.99. 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 7400.00 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 5500.00.
Bitcoin (BTCUSD) weekly forecast on August 6 — 12, 2018
The conservative area for Bitcoin sales near the upper boundary of the Bollinger Bands indicator bars is at 8500.00. The abolition of the option to continue Bitcoin fall will be the breakdown of the upper range of the Bollinger Bands indicator bands, as well as the moving average with a period of 55, and the closing of the pair quotes above the area of 8800.00, indicating a change in the trend in favor of the bullish 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.
