Cryptocurrency Bitcoin (BTC/USD) is trading at 4050.48. 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, quotes of the pair test the average border of the bands of the indicator Bollinger Bands. An insignificant correction is expected near the level of 2970.50, where we can expect an attempt to continue growth and further development of the upward trend with the target near the level of 4350.50.
Bitcoin (BTC/USD) forecast and analysis on October 2, 2017
The conservative area for buying is near the lower border of the Bollinger Bands indicator bars at 3790.50. The abolition of the option of continuing Bitcoin growth will be the breakdown of the lower border of the Bollinger Bands indicator bands, as well as the moving average with a period of 55 and the closing of the pair quotes below the area of 3620.50, 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.