Monthly reviews

BTCUSD market technical outlook

Cryptocurrencies

Monthly chart:

December slowed down a little the drop of bitcoin, however it’s hard to say that achievements of bulls were significant. It’s enough space for upward correction - upto the middle Bollinger band (6172.00). Will buyers take advantage of this opportunity - it’s a big question, since ADX keeps trending activity in favor of bears.


Expectations:

So, further corrective upward dynamics in direction of 6172 dollars for a coin might be observed. However we need to take into consideration a high probability of further drop at any moment.

Trading recommendations:

Careful long-trades in direction 6172 and readiness to switch the tactics from bullish to bearish at any moment.