Technical analytics

BTCUSD market technical outlook


Daily chart:

Tendency for potential accumulation within the upper Bollinger bands (3795-4117) preserves. Also we mark a distinct growth of ADX indicator, that implies a probable forthcoming of impulse movement.


Locally the upper Bollinger band was broken and it’s a strong signal of quotes’ recovery continuation. According to relatively weak ADX we can assume, that market will launch prior correction in direction of the middle Bollinger band (3841), where the most optimal buy entry point resides.


We note support levels capable to stop downward correction: 3957, 3841, 3795. The main trading tactics might be the search for local long signals, that can emerge at this levels.


So, we expect continuation of bitcoin quotes’ recovery, which can be launched after touch of the support levels 3957, 3841, 3795.

Trading recommendations:

Looking for buy signals at the 3957, 3841, 3795 levels.

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