Bitcoin (BTC/USD) forecast and analysis on October 24, 2020

Cryptocurrency Bitcoin (BTC/USD) is trading at 12967. 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 October 24, 2020

As part of the Bitcoin exchange rate forecast, a test of the level of 12470 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 13850. The conservative area for Bitcoin purchases is located near the lower border of the Bollinger Bands indicator bars at 11140.

Bitcoin (BTC/USD) forecast and analysis on October 24, 2020

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 the closing of quotations of the pair below the area of ​​11130. 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 in the fall of the cryptocurrency.

Bitcoin (BTC/USD) forecast and analysis on October 24, 2020 implies a test level of 12470. Further, growth is expected to continue to the area above the level of 13850. The conservative buying area is near the area of ​​11140. Cancellation of the cryptocurrency growth option will be the breakdown of the level of 11130. In this case, we should expect a continuation falling.


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