Cryptocurrency Bitcoin (BTC/USD) is trading at 5530. Cryptocurrency quotes are trading below the moving average with a period of 55. This indicates a bearish trend on Bitcoin. At the moment, the cryptocurrency quotes are moving near the lower border of the Bollinger Bands indicator bands.
As part of the Bitcoin exchange rate forecast, a test of 6100 is expected. Where should we expect an attempt to continue the fall of BTC/USD and the further development of the downward trend. The purpose of this movement is the area near the level of 4800. The conservative area for selling Bitcoin is located near the upper border of the Bollinger Bands indicator at the level of 6810.
Bitcoin (BTCUSD) weekly forecast on November 19 — 25, 2018
Cancellation of the option to continue the decline in the rate of 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 7000 area. This will indicate a change in the current trend in favor of the 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 November 19 — 25, 2018 implies a test level of 6100. Further, it is expected to continue falling to the area below the 4800 level. The conservative sales zone is near the 6810 area. Breakdown of the falling cryptocurrency level will be the breakdown of the 7000 level. In this case, we should expect continued growth.
