Weekly reviews

BTCUSD market technical outlook

Cryptocurrencies

Daily chart:

Mighty downtrend of bitcoin continues. On background of a very active tone of ADX indicator, we can suppose that we’ll see the break of the psychological support of 3000 dollars for a coin very shortly. An overall aim of the market can entirely discourage investors - the target 1732.40 looks quite realistic.


Expectations:

So, we expect break of the support 3000.00 and continuation of decline in direction 1732.40.

Trading recommendations:

Shorts in direction 1732.40.