Cryptocurrency Bitcoin (BTC/USD) is trading at 3812. 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 middle border of the Bollinger Bands indicator.
Bitcoin (BTCUSD) weekly forecast on January 7 — 13, 2019
As part of the Bitcoin exchange rate forecast, a test of 4200 is expected. Where should we expect an attempt to continue the fall in BTC/USD and further development of the downward trend. The purpose of this movement is the area near the level of 2800. The conservative area for sales of Bitcoin is located near the upper border of the Bollinger Bands indicator at the level of 4250.
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 4650. 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 January 7 — 13, 2019 implies a test level of 4200. 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 4250. Canceling the option of falling cryptocurrency will break the level of 4650. In this case, we can expect continued growth.
