Cryptocurrency Bitcoin (BTC/USD) is trading at 11034. 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 29, 2020
As part of the Bitcoin exchange rate forecast, a test of the level of 10880 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 11940. 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 lower border of the Bollinger Bands indicator bars. As well as the moving average with a period of 55 and closing of quotations of the pair below the area of 9050. This will indicate a change in the current trend in favor of the bearish for BTC/USD. In case of a breakdown of the upper border of the Bollinger Bands indicator bands, we should expect an acceleration of the fall of the cryptocurrency.
Bitcoin (BTC/USD) forecast and analysis on July 29, 2020 implies a test level of 10880. Further, growth is expected to continue to the area above the level of 11940. The conservative buying area is near the area of 9060. Cancellation of the cryptocurrency growth option will be a breakdown of the level of 9050. In this case, we should expect a continuation of the fall.