Weekly reviews

BTCUSD market technical outlook


Weekly chart:

Mid-term forecast for bitcoin is negative again. ADX indicator stands in the area of trending activity and actual target of downtrend is the lower Bollinger band (2391). Let’s note a substantial decay of this dynamic support (for more than 300 dollars!), that also speaks for scenario of new downward wave development.


Start of decline in direction of the handle 2391 dollars for a coin.

Trading recommendations:

Shorts towards 2391.