Technical analytics

BTCUSD market technical outlook

Cryptocurrencies

Daily chart:

Bitcoin was ejected from the area of dynamic support 9147 (lower Bollinger band), that may send market to a new upward phase during flat inside lower Bollinger bands.

Thus if growth is somehow confirmed the target will be at middle Bollinger band (10351). 

H4-chart:

Strong local resistance can be met by the market at middle Bollinger band (9794). Earlier lower Bollinger band was broken, therefore a new downward movement after testing of 9794 is highly likely.

H1-chart:

On hourly chart we can see bulls’ prospects much more clear: we see a break of upper Bollinger band and active trending growth of ADX! This points to a probable upward momentum, besides resistance 9794 doesn’t look unbreakable. We expect bitcoin at 10000!

Expectations:

Growth in direction 10000!

Trading recommendations:

Longs towards 10000.

 

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