Cryptocurrency Bitcoin (BTC/USD) is trading at 7500.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 January 7, 2020
As part of the Bitcoin exchange rate forecast, a test of the level of 7370 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 7710. The conservative area for buying Bitcoin is located near the lower border of the Bollinger Bands indicator strip at 7100.
The 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 the moving average with a period of 55 and the closing of quotations of the pair below the area of 6860. 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 January 7, 2020implies a test level of 7370. Further growth is expected to continue to the area above the level of 7710.The conservative area for buying Bitcoin is located area of 7100. Cancellation of the growth option of cryptocurrency will be a breakdown of the level of 6860.In this case, we can expect further the fall.
