Cryptocurrency Bitcoin (BTC/USD) is trading at 6730.10. Quotes of the cryptocurrency are traded above the moving average with a period of 55, which indicates the existence of a bullish trend for Bitcoin. At the moment, the quotes of the cryptocurrency test the upper boundary of the bands of the indicator Bollinger Bands. A test of the level of 6600.00 is expected, from which one should expect an attempt to continue growth and further development of an upward trend with a target close to level 7150.20.
Bitcoin (BTC/USD) forecast and analysis on July 18, 2018
The conservative buying area is located near the middle border of the Bollinger Bands indicator strip at 6400.00. The abolition of the option of continuing Bitcoin growth will be the breakdown of the mid-range area of the Bollinger Bands indicator bars, as well as the moving average with a period of 55 and the closing of the pair quotes below the 6200.50 area, indicating a change in the bearish trend for BTC/USD. In the event of breakdown of the upper boundary of the bands of the indicator Bollinger Bands, one should expect an acceleration of growth.