Cryptocurrency Bitcoin (BTC/USD) is trading at 4595.60. Quotes of the pair are traded above the moving average with a period of 55, which indicates the existence of a bullish trend for the Bitcoin/Dollar. At the moment, quotes of the pair test the upper boundary of the bands of the indicator Bollinger Bands. A slight correction is expected near the level of 4400.50, where again we should expect an attempt to continue growth and further development of the upward trend in the Bitcoin/Dollar pair near the level of 5230.20.
Bitcoin (BTC/USD) forecast and analysis on August 31, 2017
The conservative area for Bitcoin/Dollar pair buying is near the lower boundary of the Bollinger Bands indicator strip at 4151.50. Canceling the option of continuing the growth of the BTC/USD pair will be the breakdown of the lower border of the Bollinger Bands indicator bands, as well as the moving average with a level of 55 and the closing of the pair quotes below the area of 3930.50, indicating a change in the trend in favor of the bearish Bitcoin/Dollar. In the event of breakdown of the upper boundary of the bands of the indicator Bollinger Bands, one should expect an acceleration of growth.