Cryptocurrency Bitcoin (BTC/USD) is trading at 7445.02. 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 test the upper boundary of the bands of the indicator Bollinger Bands. A test of the level 6755.40 is expected, from which one should expect an attempt to continue growth and further development of the upward trend with the aim near the level of 8120.50.
Bitcoin (BTC/USD) forecast on November 6 —10, 2017
The conservative buying area is located near the lower border of the Bollinger Bands indicator strip at the level of 4970.20. The abolition of the option of continuing Bitcoin growth will be a moving average with a period of 55 and the closing of the pair quotes below the area of 4750.50, 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.