BTCUSD market technical outlook
Analysis method - “Trend Potential”
Market didn’t experience changes so far - trading goes in the middle of the lower Bollinger bands range and accumulates potential for further movement in direction 3096.53 (lower band). The situation is complex because we have an equal probability that upward correction can reach the middle band (4291.00), where the most optimal sell entry point resides.
Local consolidation within the lower Bollinger bands (3620.07-3828.83). ADX is very close to a trending area, therefore we can witness acceleration of decline in case of the support 3620.07 break.
Downward local phase of the movement in direction 3620.07 (lower Bollinger band). Intraday ADX corrects, therefore we have to admit that further decline is unlikely.
Decline in direction 3620.07.
Shorts towards 3620.07.