Cryptocurrency Bitcoin (BTC/USD) is trading at 9364. 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 July 23, 2020
As part of the Bitcoin exchange rate forecast, a test of the level of 9305 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 9550. The conservative area for Bitcoin purchases is located near the lower border of the Bollinger Bands indicator bars at 9060.
Cancellation of the option to continue the growth of the Bitcoin rate will be a breakdown of the area of the lower border of the Bollinger Bands indicator bars. As well as a moving average with a period of 55 and closing of quotations of the pair below the area of 9020. 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, we should expect an acceleration in the fall of the cryptocurrency.
Bitcoin (BTC/USD) forecast and analysis on July 23, 2020 implies a test level of 9305. The conservative buying area is located near the area of 9060. Cancellation of the cryptocurrency growth option will be the breakdown of the level of 9020. In this case, we should expect the fall to continue.