Weekly reviews

BTCUSD market technical outlook

Cryptocurrencies

Weekly chart:

Downward phase of bitcoin movement continues in direction of strong support at the area of middle Bollinger band (5200.00), from where, in its turn, we can expect the next upward bounce, since decline goes on background of falling ADX, that tells about absence of trending potential.

Expectations:

Decline towards 5200.00.

Trading recommendations:

Shorts towards 5200.00.