Weekly reviews

Weekly BTCUSD market technical outlook

Weekly chart:

Active upward correction continues in direction of the middle Bollinger band ($4653). This dynamic resistance is a key level to detect scenarios of recovery continuation or start of a new decline (watch the red and black arrows).


So, we expect further growth of the bitcoin quotes towards the 4653 handle and after that we should analyze market reaction on this resistance.

Trading recommendations:

  1. Longs towards 4653.

  2. Looking for new signals at the 4653 region.