Technical analytics

BTCUSD market technical outlook

Cryptocurrencies

Daily chart:

Bitcoin quotes continue to fluctuate within horizontally located Bollinger bands (the range of $3752-4073 for a coin).

At the same time we need to note a relatively small volatility, when boundaries of the range are not being tested for a long period of time. Thus, the main events are taking place (and apparently will keep on this tendency) at the area of middle Bollinger band (3917).

H4-chart:

Local sideways trading range doesn’t exceed $50 (3890-3940), that complicates speculative trading of this asset. ADX indicator resides in a very weak zone, therefore likelihood of flat continuation should be regarded as prevailing.

H1-chart:

Intraday the Bollinger bands offer the market even narrower range 3904-3932. Volatility rises from time to time, that can be well seen in shape of specific “tails” of the bars. However in general tendency for flat retains.

Expectations:

Continuation of flat in the 3904-3932 range.

Trading recommendations: Absent.

New articles