Cryptocurrency Bitcoin (BTC/USD) is trading at 6561. 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 March 25, 2020
As part of the Bitcoin exchange rate forecast, a test of the level of 6120 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 7620. The conservative area for buying Bitcoin is located near the lower border of the Bollinger Bands indicator strip at the level of 5750.
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 5620. 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 March 25, 2020 implies a test level of 6120. Further growth is expected to continue to the area above the level of 7620. The conservative buying area is located near the area of 5750. The breakdown of the growth option for cryptocurrency will be the breakdown of the level of 5620. In this case, we should expect further fall.