Cryptocurrency Bitcoin (BTC/USD) is trading at 8757. 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 May 2, 2020
As part of the Bitcoin exchange rate forecast, a test level of 8400 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 9630. The conservative area for buying Bitcoin is located near the lower border of the Bollinger Bands indicator strip at 7210.
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 closing of quotations of the pair below the area of 7180. 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 May 2, 2020 implies a test level of 8400. Further growth is expected to continue to the area above the level of 9630. The conservative buying area is located near the area of 7210. The breakdown of the growth option for cryptocurrency will be the breakdown of the level of 7180. In this case, we should expect further fall.
