Bitcoin BTC/USD is trading at the level of 2419.21. 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 lower boundary of the bands of the Bollinger Bands indicator. It is expected to test the average border of the Bollinger Bands indicator bars near the level of 2670.00, where again we should expect an attempt to continue the fall and further development of the bearish trend in the Bitcoin cryptocurrency with the target of reducing near the level of 2120.00.
Bitcoin forecast & analysis on June 16, 2017
The conservative area for Bitcoin sales is located near the upper boundary of the Bollinger Bands indicator strip at the level of 2980.00. The abolition of the continuation of the fall of the BTC/USD crypto currency 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 Bitcoin quotations above the area of 3050.00, indicating a change in the bullish trend for BTC/USD. In the event of a breakdown of the lower boundary of the Bollinger Bands indicator bars, it is expected to accelerate the fall of the cryptocurrency into the area below the level of 2120.00.
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