Cryptocurrency Bitcoin (BTC/USD) is trading at 13790. 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 29, 2020
As part of the Bitcoin exchange rate forecast, a test of the level of 13225 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 14620. The conservative area for Bitcoin buying is located near the lower border of the Bollinger Bands indicator bars at 12740.
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 12680. 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 29, 2020 implies a test level of 13225. Further, growth is expected to continue to the area above the level of 14620. The conservative buying area is near the area of 12740. Cancellation of the cryptocurrency growth option will be a breakdown of the level of 12680. In this case, we should expect a continuation falling.