Cryptocurrency Bitcoin (BTC/USD) is trading at 5916.79. 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 test of level 5260.50 is expected, from which one should expect an attempt to continue growth and further development of the upward trend with a target near the level of 6550.50.
Bitcoin (BTC/USD) forecast on October 23 — 27, 2017
The conservative buying area is located near the middle border of the Bollinger Bands indicator strip at 4914.50. 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 3340.50, 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.
