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).

Expectations:

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.