Cryptocurrency Bitcoin (BTC/USD) is trading at 7921.32. 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 upper border of the Bollinger Bands indicator bars. A test of the level of 7660.50 is expected, from which one should expect an attempt to continue growth and further development of the upward trend with a target near the level of 8420.50.
Bitcoin (BTC/USD) forecast and analysis on November 18, 2017
The conservative buying area is located near the middle border of the Bollinger Bands indicator strip at 7108.80. The abolition of the option of continuing Bitcoin growth will be a breakdown of the mid-range 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 6750.50, 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.