Cryptocurrency Bitcoin (BTC/USD) is trading at 9568. 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 lower border of the Bollinger Bands indicator stripes.
Bitcoin (BTCUSD) forecast on September 2 — 8, 2019
As part of the Bitcoin exchange rate forecast, a test level of 10200 is expected. Where can we expect an attempt to continue the fall of BTC/USD and the further development of a downward trend. The purpose of this movement is the area near the level of 7500. The conservative area for Bitcoin sales is located near the upper border of the Bollinger Bands indicator strip at 11000.
Cancellation of the option to continue the depreciation of Bitcoin will be a breakdown of the upper border of the Bollinger Bands indicator stripes. As well as the moving average with a period of 55 and the closing of quotations of the pair above the area of 11500. This will indicate a change in the current trend in favor of the bullish for BTC/USD. In case of breakdown of the lower border of the Bollinger Bands indicator bands, we should expect an acceleration in the fall of cryptocurrency.
Bitcoin (BTCUSD) forecast on September 2 — 8, 2019 implies a test level of 10200. Further, it is expected to continue falling to the area below the level of 7500. The conservative area for selling Bitcoin is located area of 11000. Canceling the option of falling cryptocurrency will be a breakdown of the level of 11500. In this case, we can expect continuation growth.