Cryptocurrency Bitcoin (BTC/USD) is trading at 5637.41. 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. Currently, the cryptocurrency quotes are testing the lower boundary of the Bollinger Bands indicator bars. A test of the level of 5580.50 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 6330.50.
Bitcoin (BTC/USD) forecast and analysis on October 25, 2017
The conservative area for buying is near the lower border of the Bollinger Bands indicator strip at 5616.50. 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 5450.50, 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.