Cryptocurrency Bitcoin (BTC/USD) is trading at 7710.80. 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, the quotes of the cryptocurrency are moving near the upper border of the Bollinger Bands indicator bars. A level test 7230.50 is expected, from which one should expect an attempt to continue growth and further develop an upward trend with a target near the level of 9110.50.
Bitcoin (BTC/USD) forecast on November 20 — 24, 2017
The conservative buying area is located near the lower border of the Bollinger Bands indicator strip at the level of 5976.50. Abolishing the option of continuing Bitcoin growth will be a breakdown of the moving average with a period of 55 and the closing of the pair quotes below the area of 5510.50, 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.
