Technical analytics

BTCUSD market technical outlook

Cryptocurrencies

Daily chart:

Buyers bump up trending pressure at the area of another “round” level 13000, therefore there are virtually no doubts, that in the coming couple of days we’ll see one more $1000 spike. And as it said having 14000 we’ll get 15000. Thus we expect growth in direction 15000, where some bulls might cede temptation and cash out. 

H4-chart:

Strong local resistance stands at the 13255 level (upper Bollinger band). Last touch of this level drove to correction by more than $3300! But ADX pressure should be regarded as very high, therefore break further to the upside looks a prevailing scenario.

H1-chart:

Bearish divergence of oscillator is in place. We can’t rule out, that market can be pumped up to get rid of some “unwanted passengers” in direction of support 12628 at middle Bollinger band. 

Expectations:

Main scenario: Growth towards 13136-13255 and then downward correction towards 12628. After that growth of bitcoin will be resumed.

Alternative scenario: Break above 13255 and following growth in direction 13500 and 13700.

Trading recommendations:

Longs towards 13500, 13700, 14000. Optimal entry point is 12628.

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