Cryptocurrency Bitcoin (BTC/USD) is trading at 7300.00. 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 8300.00 is expected, from which one should expect an attempt to continue the fall and further development of a downward trend with a target near the level of 5800.50.
Bitcoin (BTCUSD) weekly forecast on May 28 — June 3, 2018
The conservative area for Bitcoin sales is located at the upper border of the Bollinger Bands indicator bars at 9500.20. The abolition of the continuation of Bitcoin fall will be the breakdown of the upper border of the Bollinger Bands indicator bands, as well as the moving average with a period of 55 and the closing of the pair quotations above the area of 10000.50, 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.