Cryptocurrency Bitcoin (BTC/USD) is trading at 4741.28. 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 4580.50, where again we should expect an attempt to continue growth and further development of the upward trend in the Bitcoin/Dollar pair near the level of 5310.50.
Bitcoin (BTC/USD) forecast and analysis on September 4, 2017
The conservative area for Bitcoin/Dollar pair buying is near the lower boundary of the Bollinger Bands indicator strip at the level of 4330.30. Canceling the option of continuing the growth of the BTC/USD pair will be the breakdown of the lower border of the Bollinger Bands indicator bands, as well as the moving average with a level of 55 and the closing of the pair quotes below the area of 4080.50, 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.