Cryptocurrency Bitcoin (BTC/USD) is trading at 3596. Cryptocurrency quotes are trading below the moving average with a period of 55. This indicates a bearish trend for Bitcoin. At the moment, cryptocurrency quotes are moving near the lower border of the Bollinger Bands indicator bands.
Bitcoin (BTCUSD) weekly forecast on February 11 — 17, 2019
As part of the Bitcoin exchange rate forecast, the test level of 3750 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 2600. The conservative area for selling Bitcoin is located near the upper border of the Bollinger Bands indicator at the level of 3820.
Cancellation of the option to continue the decline in 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 area of 4250. This will indicate a change in the current trend in favor of the bullish for 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 February 11 — 17, 2019 implies a test level of 3750. Further, it is expected to continue falling to the area below the level of 2600. The conservative area for selling Bitcoin is located area of 3820. Canceling the option of falling cryptocurrency will break the level of 4250. In this case, we can expect continued growth.