Cryptocurrency Bitcoin (BTC/USD) is trading at 65842. 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 November 16, 2021
As part of the Bitcoin exchange rate forecast, a test of the level of 64730 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 67920. The conservative area for Bitcoin buying is located near the lower border of the Bollinger Bands indicator bars at 63040.
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 the moving average with a period of 55 and closing of quotations of the pair below the area of 63950. 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 of the fall of the cryptocurrency.
Bitcoin (BTC/USD) forecast and analysis on November 16, 2021 implies a test level of 64730. Further, growth is expected to continue to the area above the level of 67920. The conservative buying area is near the area of 63040. Cancellation of the cryptocurrency growth option will be a breakdown of the level of 63950. In this case, we should expect a continuation falling.