Cryptocurrency Bitcoin (BTC/USD) is trading at 61110. Cryptocurrency quotes are trading below the moving average with a period of 55. This indicates a bearish trend on Bitcoin. At the moment, cryptocurrency quotes are moving near the middle border of the Bollinger Bands indicator bars.
Bitcoin (BTC/USD) forecast and analysis on November 3, 2021
As part of the Bitcoin exchange rate forecast, a test of the level of 62260 is expected. Where can we expect an attempt to continue the fall in BTC/USD and the further development of the downward trend. The purpose of this movement is the area near the level of 58820. The conservative area for Bitcoin sales is located near the upper border of the Bollinger Bands indicator bars at 62270.
Cancellation of the option to continue the decline in the Bitcoin exchange rate will be a breakdown of the upper border of the Bollinger Bands indicator bars. As well as the moving average with a period of 55 and the closing of quotations of the pair above the 62320 area. This will indicate a change in the current trend in favor of the bullish for BTC/USD. In case of a breakdown of the lower border of the Bollinger Bands indicator bars, we should expect an acceleration in the fall of the cryptocurrency.
Bitcoin (BTC/USD) forecast and analysis on November 3, 2021 implies a test level of 62260. Further, the continuation of the fall to the area below the level of 58820 is expected. The conservative sales area is located near the area of 62270. Cancellation of the option of falling cryptocurrency will be a breakdown of the level of 62320. In this case, we should expect a continuation growth.