BITCOIN BTC/USD is trading at the level of 2382.60. Quotes of the currency are traded below the moving average with a period of 55, indicating a bearish trend for BITCOIN. At the moment, quotes of the pair test the average border of the bands of the indicator Bollinger Bands. A moving average test is expected near the level of 2525, where again we should expect an attempt to continue the fall and further develop the bearish trend for the BITCOIN cryptocurrency with a target near 2405.
BITCOIN forecast & analysis BTC/USD on July 11, 2017
The conservative sales area for BITCOIN is located near the upper boundary of the Bollinger Bands indicator strip at 2560. Canceling the continuation of the fall the BTC/USD will be a breakdown of the moving average region with a level of 55, as well as the upper boundary of the Bollinger Bands indicator bars and the closing of the BITCOIN quotations above the 2590 area, indicating a change in the trend and in favor of the bull by BTC/USD. In the event of a breakdown of the lower border of the Bollinger Bands indicator bars, it is expected to accelerate the fall of the cryptocurrency into the area below the level of 2405.
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