Cryptocurrency Bitcoin (BTC/USD) is trading at 8167.87. 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 are moving near the middle of the indicator strip Bollinger Bands. A test of level 8000.00 is expected, from which one should expect an attempt to continue growth and further development of an upward trend with a target near the level of 9200.00.
Bitcoin (BTC/USD) forecast and analysis on July 27, 2018
The conservative buying area is near the lower border of the Bollinger Bands indicator strip at 7100.20. The abolition of the option to continue Bitcoin growth will be the breakdown of the lower border area of the Bollinger Bands indicator strips, as well as the moving average with a period of 55 and the closing of the pair quotes below the 7000.00 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.
