Cryptocurrency Bitcoin (BTC/USD) is trading at 36570. 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.
As part of the Bitcoin exchange rate forecast, a test of the level of 34490 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 40860. The conservative area for Bitcoin purchases is located near the lower border of the Bollinger Bands indicator bars at 34480.
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 the closing of quotations of the pair below the 34400 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 in the fall of the cryptocurrency.
Bitcoin (BTC/USD) forecast and analysis on January 20, 2021 implies a test level of 34490. Further, growth is expected to continue to the area above the level of 40860. The conservative buying area is near the area of 34480. Cancellation of the cryptocurrency growth option will be a breakdown of the level of 34400. In this case, we should expect a continuation falling.