Cryptocurrency Bitcoin (BTC/USD) is trading at 6407.90. 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. The test is expected at the level of 6370.00, from which one can expect an attempt to continue the growth and further development of the upward trend with a goal near the level of 6560.00.
Bitcoin (BTC/USD) forecast and analysis on October 24, 2018
The conservative buying area is near the lower border of the Bollinger Bands indicator strip at 6360.00. 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 the area of 6250.00, which indicates 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.