Technical analytics

Bitcoin market technical outlook

Cryptocurrencies

Analysis method - “Trend Potential” June 13, 2018

Daily chart: The sellers’ pressure on cryptocurrencies’ market is getting pumped, that is indicated by ADX indicator activity increase. Support in the 6226.14 area looks very strong, but the stronger sell signal will be in case of its break.  

H4: Locally, as we see, support 6226.14 will still keep its actuality - bitcoin continues to be traded within lower Bollinger bands (6226.14-6800.00).

H1: Local resistance in the area of middle Bollinger band (6558.00), from which the coin is being sold actively.

Expectations:

Main scenario: Flat in the 6226.14-6558.00 range.

Alternative scenario: In case of move under 6226.14, decline towards 6000.00 can be expected.

Trading recommendations: Shorts from 6558.00 toward 6226.14 and 6000.00.

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