Cryptocurrency Bitcoin (BTC/USD) is trading at 7710. 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 upper border of the Bollinger Bands indicator stripes.
Bitcoin (BTC/USD) forecast and analysis on April 29, 2020
As part of the Bitcoin exchange rate forecast, a test of the level of 7610 is expected. Where can we expect an attempt to continue the growth of BTC/USD and the further development of the upward trend. The purpose of this movement is the area near the level of 8170. The conservative area for buying Bitcoin is located near the lower border of the Bollinger Bands indicator strip at 7420.
Cancellation of the option to continue the growth of the Bitcoin exchange rate will be a breakdown of the lower border of the Bollinger Bands indicator stripes. As well as a moving average with a period of 55 and closing of quotations of the pair below the area of 7360. This will indicate a change in the current trend in favor of the bearish for BTC/USD. In case of breakdown of the upper border of the Bollinger Bands indicator bands, we should expect an acceleration in the fall of cryptocurrency.
Bitcoin (BTC/USD) forecast and analysis on April 29, 2020 implies a test level of 7610. Further growth is expected to continue to the area above the level of 8170. The conservative buying area is located near the area of 7420. The breakdown of the cryptocurrency growth option will be the breakdown of the level of 7360. In this case, we should expect continued decline.
