Cryptocurrency Bitcoin (BTC/USD) is trading at 3774. Cryptocurrency quotes are trading above the moving average with a period of 55. This indicates a bullish trend on Bitcoin. At the moment, cryptocurrency quotes are moving near the middle border of the Bollinger Bands indicator.
Bitcoin (BTC/USD) forecast and analysis on January 5, 2019
As part of the Bitcoin exchange rate forecast, a test level of 3650 is expected. Where should we expect an attempt to continue BTC/USD growth and further development of the upward trend. The purpose of this movement is the area near the level of 4060. The conservative area for buying of Bitcoin is located near the lower border of the Bollinger Bands indicator bars at the level of 3640.
Cancellation of the option to continue the growth rate of Bitcoin will be the breakdown of the lower border of the Bollinger Bands indicator. As well as the moving average with a period of 55 and closing of quotations of the pair below the area of 3560. This will indicate a change in the current trend in favor of a bearish BTC/USD. In case of a breakdown of the upper border of the Bollinger Bands indicator bands, one should expect an acceleration of the fall of the cryptocurrency.
Bitcoin (BTC/USD) forecast and analysis on January 5, 2019 implies a test level of 3650. Further, growth is expected to continue to the area above the level of 4060. The conservative area for buying Bitcoin is located area of 3640. Cancellation of the cryptocurrency growth option will be a breakdown of the level of 3560. In this case, we can expect continuation the fall.