Cryptocurrency Bitcoin (BTC/USD) is trading at 35239. Cryptocurrency quotes are trading below the moving average with a period of 55. This indicates a bearish trend on Bitcoin. At the moment, cryptocurrency quotes are moving near the lower border of the Bollinger Bands indicator bars.
As part of the Bitcoin exchange rate forecast, a test of the level of 36230 is expected. Where can we expect an attempt to continue the fall in BTC/USD and the further development of the downward trend. The purpose of this movement is the area near the level of 31200. The conservative area for Bitcoin sales is located near the upper border of the Bollinger Bands indicator strip at 37800.
Cancellation of the option to continue the decline in the Bitcoin rate will be a breakdown of the upper border of the Bollinger Bands indicator bars. As well as the moving average with a period of 55 and closing of quotations of the pair above the 38200 area. 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 bars, we should expect an acceleration of the fall of the cryptocurrency.
Bitcoin (BTC/USD) forecast and analysis on January 21, 2021 implies a test level of 36230. Further, the continuation of the fall to the area below the level of 31200 is expected. The conservative sales area is near the area of 37800. Cancellation of the cryptocurrency fall option will be the breakdown of the level of 38200. In this case, we should expect a continuation growth.