Technical analytics

Bitcoin market technical outlook

Cryptocurrencies

Analysis method - “Trend Potential” June 22, 2018

Daily chart: Active downward tendency in direction of lower Bollinger band (5914.96) preserves.

H4: Bears are aggressively breaking lower Bollinger band at this moment, that will become a very strong signal for further shorts. At the same time ADX is far from trending area as of now, that remain chances for one more upward correction towards middle Bollinger band (6616.00), where the most optimal zone for new sell trades will reside.

H1: Locally lower band is already broken. We await further fall of bitcoin.

Expectations: Continuation of the quotes’ fall towards 5914.96 area. Prior pullback towards 6616.00 is possible.

Trading recommendations: Shorts towards 5914.96 (optimal entry zone is 6616.00).

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