Cryptocurrency Bitcoin (BTC/USD) is trading at 3569. Cryptocurrency quotes are trading below the moving average with a period of 55. This indicates a bearish trend on Bitcoin. At the moment, cryptocurrency quotes are moving near the lower border of the Bollinger Bands indicator bands.
Bitcoin (BTCUSD) weekly forecast on December 10 — 16, 2018
As part of the Bitcoin exchange rate forecast, a test of 4000 is expected. Where should we expect an attempt to continue the fall of BTC/USD and further development of the downward trend. The aim of this movement is the area near the level of 2480. The conservative area for selling Bitcoin is located near the upper border of the Bollinger Bands indicator at the level of 4520.
Cancellation of the option to continue the decline in Bitcoin will be the breakdown of the area of the upper border of the Bollinger Bands indicator. As well as the moving average with a period of 55 and closing of quotations of the pair above the area of 5200. This will indicate a change in the current trend in favor of a bullish BTC/USD. In case of a breakdown of the lower border of the Bollinger Bands indicator bands, we should expect an acceleration of the cryptocurrency fall.
Bitcoin (BTCUSD) weekly forecast on December 10 — 16, 2018 suggests a test level of 4000. Further, it is expected to continue falling to the area below the level of 2480. The conservative area for selling Bitcoin is located area of 4520. Cancellation of the option of falling cryptocurrency will be the breakdown of the level of 5200. In this case, we should expect continued growth.
