Technical analytics

Bitcoin market technical outlook

Cryptocurrencies

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.


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