Technical analytics

BTCUSD market technical outlook

Cryptocurrencies

Daily chart:

Bitcoin confirms negative forecast trending down in direction of the support zone 8925-9430 (area of lower Bollinger band).

H4-chart:

Locally we also note active trending state of ADX indicator in favor of further sell-offs. Targets are 9430 and 8925.

H1-chart:

The utmost target of probable upward correction appears to be middle Bollinger band (10159). However ADX is in a trending phase, therefore decline can be continued right away, from current levels.

Expectations:

Decline in direction 9430 and 8925.

Trading recommendations:

Shorts towards 9430 and 8925.

 

New articles