Cryptocurrency Bitcoin (BTC/USD) is trading at 5712. 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 upper border of the Bollinger Bands indicator.
Bitcoin (BTCUSD) weekly forecast on May 6 — 12, 2019
As part of the Bitcoin exchange rate forecast, the test is expected at the level of 5400. Where should we expect an attempt to continue BTC/USD growth and the further development of the upward trend. The purpose of this movement is the area near the level of 6580. The conservative area for buying of Bitcoin is located near the lower border of the Bollinger Bands indicator strip at the level of 4850.
Cancellation of the option to continue the growth rate of Bitcoin will be the breakdown of the lower border of the Bollinger Bands indicator. As well as the moving average with a period of 55 and the closing of quotations of the pair below the area of 4520. This will indicate a change in the current trend in favor of a bearish for BTC/USD. In case of a breakdown of the upper border of the Bollinger Bands indicator bars, one should expect an acceleration of the fall of the cryptocurrency.
Bitcoin (BTCUSD) weekly forecast on May 6 — 12, 2019 implies a test of the level of 5400. Further growth is expected to continue to the area above the level of 6580. The conservative area for buying Bitcoin is located area of 4850. Cancellation of the growth option of cryptocurrency will be a breakdown of the level of 4520. In this case, we can expect further the fall.
