Bitcoin forecast for the week of 8 — 14 Oct 2018

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Bitcoin forecast for the week of 8 — 14 Oct 2018

Bitcoin: BTC/USD is trading at the level 6524.50. Quotes of cryptocurrency trading below the moving average with period 55, indicating a bearish trend on Bitcoin. At the moment quotes cryptocurrency moving average near the boundaries of the Bollinger bands. Expected to test the level of 6800.00, where we can expect an attempt continue to fall and further development of a descending trend with the target near the level 5620.00.

Bitcoin forecast for the week of 8 — 14 Oct 2018

Conservative area for sales of Bitcoin near the upper boundary of the Bollinger bands at the level 6810.00. The cancellation of the option to continue the fall of Bitcoin will be a break out region the upper boundary of the Bollinger bands and moving average with period 55 and closing of quotations of the pair above the field 7200.00 that will indicate trend change in favor of bullish on BTC/USD. In case of breaking the lower border of the Bollinger bands is expected to fall faster.

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