Cryptocurrency Bitcoin (BTC/USD) is trading at 9284. 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 middle border of the Bollinger Bands indicator stripes.
Bitcoin (BTC/USD) forecast and analysis on February 5, 2020
As part of the Bitcoin exchange rate forecast, a test of level 9195 is expected. Where can we expect an attempt to continue the growth of BTC/USD and the further development of an upward trend. The purpose of this movement is the area near the level of 9760. The conservative area for buying Bitcoin is located near the lower border of the Bollinger Bands indicator strip at 9190.
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 9100. 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 February 5, 2020 implies a test level of 9195. Further growth is expected to continue to the area above the level of 9760. The conservative buying area is located near the area of 9190. The breakdown of the cryptocurrency growth option will be the breakdown of the level of 9100. In this case, we should expect further fall.
