Cryptocurrency Bitcoin (BTC/USD) is trading at 5854.09. 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 5250.40 is expected, from which one should expect an attempt to continue growth and further development of an upward trend with a target near the level of 6850.50.
Bitcoin (BTC/USD) forecast on October 30 — November 3, 2017
The conservative buying area is located near the lower border of the Bollinger Bands indicator strip at 4685.20. 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 4440.50, 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.
