Bitcoin (BTC/USD) forecast and analysis on August 29, 2017

Cryptocurrency Bitcoin (BTC/USD) is trading at the level of at 4282.04. Quotes of the pair are traded above the moving average with a period of 55, which indicates the existence of a bullish trend on Bitcoin/Dollar. At the moment, the pair quotes are moving near the middle border of the Bollinger Bands indicator bars. An insignificant correction is expected near the level of 4130.50, where again we should expect an attempt to continue growth and further development of the upward trend in the Bitcoin/Dollar pair near the level of 4830.50.

Bitcoin (BTC/USD) forecast and analysis on August 29, 2017

Bitcoin (BTC/USD) forecast and analysis on August 29, 2017

The conservative area for Bitcoin/Dollar pair buying is near the lower border of the Bollinger Bands indicator strip at the level of 4237.50. Canceling the option of continuing the growth of the BTC/USD pair will be a breakdown of the lower border area of ​​the Bollinger Bands indicator strip, as well as a moving average with a level of 55 and the closing of the pair quotes below the area of ​​4020.50, indicating a change in the trend in favor of the bearish Bitcoin/Dollar. In the event of a breakdown of the upper boundary of the bands of the Bollinger Bands indicator, it is expected to accelerate growth.


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