Technical analytics

BTCUSD market technical outlook


Daily chart:

Bitcoin continues moderate growth in direction of the mid-term target of $5719 for a coin (upper Bollinger band). Correcting ADX interferes with more active trading so far.


We note important local levels of support and resistance at middle (5149) and upper (5322) Bollinger bands. Given active ADX there is a probability of upward break.


Intraday session goes on the back of ADX indicator correction, that is inherent to flat market. It’s unlikely, that price can leave the boundaries of Bollinger bands (5197-5274).


Flat in the 5197-5274 range.

Trading recommendations:

Trading in the 5197-5274 channel.