Technical analytics

BTCUSD market technical outlook


Daily chart:

Bitcoin quite actively goes down in direction of the support level 6240.88 (lower Bollinger band), from where a new strong upward bounce is possible. It’s easy to distinguish mid-term increase of supports (watch the black marks), that says about big players, who buy out the coin during corrections.


Locally bears significantly prevail and confidently move towards the target 6240.88.


Hourly ADX stands in a weak zone, therefore it’s quite likely, that we’ll see intermediate upward correction towards the middle Bollinger band (6372.47), where the most optimal intraday sell area resides.


So, we expect pullback in direction 6372.47, afterwards a decline in direction 6240.88 will be resumed.

Trading recommendations:

  1. Shorts from 6372.47 towards 6240.88.

  2. Search for probable buy signals at the 6240.88 area.