Cryptocurrency Bitcoin (BTC/USD) is trading at 4009. Cryptocurrency quotes are trading below the moving average with a period of 55. This indicates a bearish trend for Bitcoin. At the moment, cryptocurrency quotes are moving near the upper border of the Bollinger Bands indicator.
Bitcoin (BTCUSD) weekly forecast on December 24 — 30, 2018
As part of the Bitcoin exchange rate forecast, the test level is expected to be 4500. Where should we expect an attempt to continue the fall in BTC/USD and the further development of the downward trend. The purpose of this movement is the area near the level of 2800. 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 a moving average with a period of 55 and closing of quotations of the pair above the 4850 area. This will indicate a change in the current trend in favor of a bullish BTC/USD. In the event of a breakdown of the lower border of the Bollinger Bands indicator bands, we should expect an acceleration of the fall of the cryptocurrency.
Bitcoin (BTCUSD) weekly forecast on December 24 — 30, 2018 implies a test level of 4500. Further, it is expected to continue falling to the area below the level of 2800. The conservative area for selling Bitcoin is located area of 4520. Canceling the option of falling cryptocurrency will be a breakdown of the level of 4850. In this case, we can expect the continuation growth.