Cryptocurrency Bitcoin (BTC/USD) is trading at 6436.51. Cryptocurrency quotes are traded below the moving average with a period of 55, which indicates the presence of a bearish trend for Bitcoin. At the moment, cryptocurrency quotes are moving near the middle border of the Bollinger Bands indicator. The test is expected to level 6700.00, from which one can expect an attempt to continue the fall and further development of the downward trend with a goal near the level of 5800.00.
Bitcoin (BTCUSD) weekly forecast on October 22 — 28, 2018
The conservative sales area for Bitcoin is near the upper boundary of the Bollinger Bands indicator bars at 6750.00. Cancellation of the option to continue falling Bitcoin will be the breakdown 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 7000.00 area, which will indicate a change in trend in favor of the bullish for BTC/USD. In case of a breakdown of the lower border of the Bollinger Bands indicator bands, one should expect an acceleration of the fall.
