Technical analytics

BTCUSD market technical outlook

Cryptocurrencies

Daily chart:

They continue to buy out bitcoin on declines. But testing of lower Bollinger band (8928) is still very likely. This area is very perspective for the start of new mid-term upward wave in direction 12229.

H4-chart:

Locally the coin is being traded in the middle of lower Bollinger bands (9428-10415). One of two options can be triggered at any moment: either further upward pullback towards 10415 or continuation of decline to lower border of the range - 9428.

H1-chart:

Lower Bollinger wasn’t broken, therefore further growth towards upper band (10415) is the most likely scenario.

Expectations:

Growth towards 10415 and then continuation of quotes’ decline in direction 9752.

Trading recommendations:

  1. Longs towards 10415.

  2. Shorts from 10415 to 9752.