Cryptocurrency Bitcoin (BTC/USD) is trading at 4610.61. Quotes of the pair are traded above the moving average with a period of 55, which indicates the existence of a bullish trend for the Bitcoin/Dollar. At the moment, the quotes of the pair move near the upper border of the Bollinger Bands indicator bars. An insignificant correction is expected near the level of 4440.50, where again we should expect an attempt to continue growth and further development of the upward trend for the Bitcoin/Dollar pair near the level of 5230.20.
Bitcoin (BTC/USD) forecast and analysis on September 1, 2017
The conservative area for Bitcoin/Dollar pair buying is near the lower boundary of the Bollinger Bands indicator strip at 4178.80. The abolition of the continuation of the growth of the BTC/USD pair will be the breakdown of the lower border of the Bollinger Bands indicator strips, as well as the moving average with the level of 55 and the closing of the quotes of the pair below the area of 3970.50, indicating a change in the trend in favor of the bearish Bitcoin/Dollar. In the event of breakdown of the upper boundary of the bands of the indicator Bollinger Bands, one should expect an acceleration of growth.