Cryptocurrency Bitcoin (BTC/USD) is trading at 55488. Cryptocurrency quotes are trading above the moving average with a period of 55. This indicates a bullish trend on Bitcoin. At the moment, cryptocurrency quotes are moving near the middle border of the Bollinger Bands indicator bars.
Bitcoin (BTCUSD) forecast on May 10 — 16, 2021
As part of the Bitcoin exchange rate forecast, a test of the level of 49100 is expected. Where can we expect an attempt to continue the growth of BTC/USD and the further development of the upward trend. The purpose of this movement is the area near the level of 67320. The conservative area for Bitcoin buying is located near the lower border of the Bollinger Bands indicator bars at 49000.
Cancellation of the option to continue the growth of the Bitcoin rate will be a breakdown of the area of the lower border of the Bollinger Bands indicator bars. As well as the moving average with a period of 55 and closing of quotations of the pair below the 47800 area. This will indicate a change in the current trend in favor of the bearish for BTC/USD. In the event of a breakdown of the upper border of the Bollinger Bands indicator bands, we should expect an acceleration of the fall of the cryptocurrency.
Bitcoin (BTCUSD) forecast on May 10 — 16, 2021 implies a test level of 49100. Further, it is expected to continue falling to the area below the level of 67320. The conservative sales area is located near the area of 49000. Cancellation of the cryptocurrency fall option will be a breakdown of the level of 47800. In this case, we should expect continued growth.
