Cryptocurrency Bitcoin (BTC/USD) is trading at 11246.87. 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 are moving near the middle border of the Bollinger Bands indicator bars. A test of level 10900.50 is expected, from which one should expect an attempt to continue growth and further development of an upward trend with a target near the level of 12200.50.
Bitcoin (BTC/USD) forecast and analysis on March 7, 2018
The conservative buying area for Bitcoin is located near the lower border of the Bollinger Bands indicator bars at 10800.50. The abolition of the option of continuing Bitcoin growth will be the breakdown of the lower border area of the Bollinger Bands indicator bars, as well as the moving average with a period of 55 and the closing of the pair quotes below the 10400.50 area, 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.