Bitcoin (BTC/USD) forecast and analysis on August 30, 2017

Cryptocurrency Bitcoin (BTC/USD) is trading at the level of at 4376.99. 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, quotes of the pair test the upper boundary of the bands of the indicator Bollinger Bands. An insignificant correction is expected near the level of 4265.80, 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 4920.50.

Bitcoin (BTC/USD) forecast and analysis on August 30, 2017

Bitcoin (BTC/USD) forecast and analysis on August 30, 2017

The conservative area for Bitcoin/Dollar pair buying is near the lower border of the Bollinger Bands indicator strip at the level of 4228.10. Canceling the option of continuing the growth of the BTC/USD pair will be the breakdown of the lower border of the Bollinger Bands indicator bands, as well as the moving average with a level of 55 and the closing of the pair quotes below the area of ​​4080.50, 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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