Cryptocurrency Bitcoin (BTC/USD) is trading at 11323.24. Quotes of the cryptocurrency are traded above the moving average with a period of 55, which indicates the existence of a bullish trend for Bitcoin. At the moment, the quotes of the cryptocurrency test the upper boundary of the bands of the indicator Bollinger Bands. A test of level 10900.20 is expected, from which one should expect an attempt to continue growth and further development of the upward trend with the target near the level of 12300.50.
Bitcoin (BTC/USD) forecast and analysis on March 4, 2018
The conservative buying area for Bitcoin is located near the lower border of the Bollinger Bands indicator bars at 10200.50. The abolition of the option of continuing Bitcoin growth will be a breakdown of the lower border area of the Bollinger Bands indicator strip, as well as a moving average with a period of 55 and the closing of the pair quotes below the area of 9800.50, indicating a change in the bearish trend for BTC/USD. In the event of breakdown of the upper boundary of the bands of the indicator Bollinger Bands, one should expect an acceleration of growth.
