Bitcoin continues to set new records. Given such enthusiasm and trending pressure of ADX indicator market apparently has all the chances to test new round mark of $12000.
If we try to evaluate the situation locally, we’ll see triple bearish divergence of oscillator, that can be a sign of probable downward correction in direction of lower Bollinger band (10323).
However such setups are not always successful on a strong trending market.
On hourly time-frame bullish pressure is in place. Thus continuation of bitcoin’s growth is a prevailing scenario for today.
We can consider correction in case bulls will expose steep weakness at the resistance level 11360 (upper Bollinger band).
Main scenario: Continuation of growth by another $200-300.
Alternative scenario: Decline from 11360 in direction 10323.
Above 11360 - longs towards 11600-11700.
Tracking of probable short-signals at the 11360 level.