Bitcoin (BTC/USD) forecast and analysis on August 7, 2020

Cryptocurrency Bitcoin (BTC/USD) is trading at 11674. 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 bars.

Bitcoin (BTC/USD) forecast and analysis on August 7, 2020

As part of the Bitcoin exchange rate forecast, a test of the level of 11380 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 12490. The conservative area for Bitcoin purchases is located near the lower border of the Bollinger Bands indicator bars at 11010.

Bitcoin (BTC/USD) forecast and analysis on August 7, 2020

Cancellation of the option to continue the growth of the Bitcoin rate will be a breakdown of the lower border of the Bollinger Bands indicator bars. As well as the moving average with a period of 55 and the closing of quotations of the pair below the 10100 area. This will indicate a change in the current trend in favor of the bearish for BTC/USD. In the event of a breakdown of the upper border of the Bollinger Bands indicator bands, one should expect an acceleration in the fall of the cryptocurrency.

Bitcoin (BTC/USD) forecast and analysis on August 7, 2020 implies a test level of 11380. Further, growth is expected to continue to the area above the level of 12490. The conservative buying area is near the area of ​​11010. Cancellation of the cryptocurrency growth option will be the breakdown of the level of 10100. In this case, we should expect a continuation falling.


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