Cryptocurrency Bitcoin (BTC/USD) is trading at 6342.78. Cryptocurrency quotes are trading above the moving average with a period of 55, which indicates the presence of a bullish trend for Bitcoin. At the moment, cryptocurrency quotes are moving near the middle border of the Bollinger Bands indicator. A test of the level of 6300.00 is expected, from which one can expect an attempt to continue the growth and further development of the upward trend with a target near the level of 6500.20.
Bitcoin (BTC/USD) forecast and analysis on November 5, 2018
The conservative buying area is near the lower border of the Bollinger Bands indicator strip at 6290.00. Cancellation of the option to continue to grow Bitcoin will be the breakdown of the lower border of the Bollinger Bands indicator strip, as well as the moving average with a period of 55 and closing of quotations of the pair below 6200.00, which will indicate a change in trend in favor of a bearish for BTC/USD. In case of a breakdown of the upper border of the Bollinger Bands indicator bands, one should expect an acceleration of growth.
