Cryptocurrency Bitcoin (BTC/USD) is trading at 9171. 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 stripes.
Bitcoin (BTC/USD) forecast and analysis on May 29, 2020
As part of the Bitcoin exchange rate forecast, a test level of 9100 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 9750. The conservative area for buying Bitcoin is located near the lower border of the Bollinger Bands indicator strip at 8600.
Cancellation of the option to continue the growth of the Bitcoin exchange rate will be a breakdown of the lower border of the Bollinger Bands indicator stripes. As well as a moving average with a period of 55 and the closing of quotations of the pair below the area of 8530. This will indicate a change in the current trend in favor of the bearish for BTC/USD. In case of breakdown of the upper border of the Bollinger Bands indicator bands, we should expect acceleration of the cryptocurrency fall.
Bitcoin (BTC/USD) forecast and analysis on May 29, 2020 implies a test level of 9100. Further growth is expected to continue to the area above the level of 9750. The conservative buying area is located near the area of 8600. The breakdown of the cryptocurrency growth option will be the breakdown of the level of 8530. In this case, we should expect further fall.