Bitcoin trading forecast for the week June 7-13, 2021
Bitcoin BTC/USD is trading at 37551. Cryptocurrency quotes are trading below the level of the moving average with a period of 55. This indicates the presence of a bearish trend for Bitcoin. At the moment, the cryptocurrency quotes are moving near the average border of the bands of the Bollinger Bands indicator.
As part of the forecast of the Bitcoin exchange rate, a test of the level of 44300 is expected. Where to expect an attempt to continue the fall of BTC/USD and further development of the downward trend. The target of this movement is the area near the level of 27040. The conservative area for Bitcoin sales is located near the upper border of the Bollinger Bands indicator at the level of 44320.
Bitcoin trading signal for the week June 7-13, 2021
The cancellation of the option to continue the decline in the Bitcoin exchange rate will be a breakdown of the upper border of the Bollinger Bands indicator bands. As well as the moving average with a period of 55 and the closing of the pair's quotes above the 50200 area. This will indicate a change in the current trend in favor of a bullish one for BTC/USD. In the event of a breakdown of the lower limit of the bands of the Bollinger Bands indicator, we should expect an acceleration in the fall of the cryptocurrency.
Bitcoin forecast for the week of June 7-13, 2021 suggests a test of the level of 44300. Further, it is expected to continue falling to the area below the level of 27040. The conservative sales area is located near the area of 44320. The cancellation of the fall of the cryptocurrency will be the breakdown of the 50200 level. In this case, we should expect continued growth.