Cryptocurrency Bitcoin (BTC/USD) is trading at 8576.30. 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 level 9500.20 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 5800.50.
Bitcoin (BTCUSD) weekly forecast on May 14 — 20, 2018
The conservative area for sales of Bitcoin is located near the upper boundary of the Bollinger Bands indicator bars at 10000.00. The abolition of the option to continue Bitcoin fall will be a breakdown of the region of the verge of the border of the Bollinger Bands indicator strip, as well as a moving average with a period of 55 and the closing of the pair quotes above 10500.20, which indicates 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.
