Technical analytics

BTCUSD market technical outlook

Cryptocurrencies

Daily chart:

ADX indicator dropped to extremely low levels pointing to the “dead calm” mode. Bitcoin is being traded inside lower Bollinger bands (9379-10573) testing boundaries of the range approximately once a week.

H4-chart:

Locally the coin also resides in a sideways trend inside Bollinger bands (9888-10390 range). Market is in an upward phase, therefore we might see testing of upper border.

H1-chart:

On hourly chart bitcoin is unlikely to leave the range of $120 channel 10016-10139 (Bollinger bands). Entirely passive ADX and stable Bollinger bands. Further flat is the forecast.

Expectations:

Flat in the 10016-10139 range.

Trading recommendations:

Short-term trades in the 10016-10139 range.

 

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