Cryptocurrency Bitcoin (BTC/USD) is trading at 54127. Cryptocurrency quotes are trading below the moving average with a period of 55. This indicates a bearish 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 3 — 9, 2021
As part of the Bitcoin exchange rate forecast, a test of the level of 56000 is expected. Where can we expect an attempt to continue the fall in BTC/USD and the further development of the downward trend. The purpose of this movement is the area near the level of 42500. The conservative area for Bitcoin sales is located near the upper border of the Bollinger Bands indicator bars at 64950.
Cancellation of the option to continue the decline in the Bitcoin rate will be a breakdown of the upper border of the Bollinger Bands indicator bars. As well as the moving average with a period of 55 and the closing of quotations of the pair above the 65200 area. This will indicate a change in the current trend in favor of the bullish for BTC/USD. In case of a breakdown of the lower border of the Bollinger Bands indicator bands, we should expect an acceleration of the fall of the cryptocurrency.
Bitcoin (BTCUSD) forecast on May 3 — 9, 2021 implies a test level of 56000. Further, it is expected to continue falling to the area below the level of 42500. The conservative sales area is located near the area of 64950. Cancellation of the cryptocurrency fall option will be a breakdown of the level of 65200. In this case, we should expect continued growth.