Cryptocurrency Bitcoin (BTC/USD) is trading at 6615.68. 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 middle border of the Bollinger Bands indicator bars. A test of the level 6800.20 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 5800.00.
Bitcoin (BTCUSD) weekly forecast on October 1 — 7, 2018
The conservative sales area for Bitcoin is near the upper boundary of the Bollinger Bands indicator bars at 6810.00. The abolition of the option to continue Bitcoin fall will be the breakdown of the upper bound of the Bollinger Bands indicator bands, as well as the moving average with a period of 55 and the closing of the pair quotes above the area of 7500.00, indicating a change in the bullish trend 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.
