Analysis method - “Trend Potential”
July 11, 2018
Daily chart: Bitcoin continues to extend its losses in direction of 5831.86 area (lower Bollinger band).
H4: Active local trending downward distribution of the price in context of aggressive ADX. Sharp increase of volatility can take place.
H1: Local horizontal trading range 6226.72-6323.65 (Bollinger bands). ADX is in active zone, therefore, break of this corridor is possible at any moment.
Expectations: So, we expect trading in the 6226.72-6323.65 range and then further decline in direction 5831.86.
Trading recommendations: Search for sell signals in the area 6226.72-6323.65.