Cryptocurrency Bitcoin (BTC/USD) is trading at 3892.19. Quotes of the currency 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 move near the middle border of the bands of the indicator Bollinger Bands. An insignificant correction is expected near the level of 3810.50, from which one should expect an attempt to continue growth and further development of the upward trend with a target near the level of 4310.50.
Bitcoin (BTC/USD) forecast and analysis on September 21, 2017
The conservative area for buying is near the lower boundary of the Bollinger Bands indicator strip at 3530.20. The abolition of the option to continue 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 3360.50, 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.
