Fundamental analytics

BTCUSD market technical outlook

Cryptocurrencies

Daily chart:

ADX resides in a passive zone despite short impulse moves, that points to a flat tendency more than to probable accumulation. So far bitcoin is being traded below lower Bollinger band (10715) holding market within lower bands (9400-10715).

However properties of Bollinger bands suggest growth to the upper band (12030) shortly, therefore long-trades will be an optimal tactics for today.

H4-chart:

Local strong resistance at the area of upper Bollinger band (10467) can send the coin to new mid-term decline in direction 9857 (lower band). It is indicated by stable horizontal orientation of Bollinger bands and weak ADX indicator.

 

H1-chart:

On hourly chart upper Bollinger band was broken, that may point to an opportunity of short-term growth after testing of middle Bollinger band (10163). The target of growth might be dynamic resistance 10489 (upper Bollinger band).

Expectations:

Touch of the 10163 level and then growth to 10489.

Trading recommendations:

Longs from 10163 to 10489.