Technical analytics

Bitcoin market technical outlook


Analysis method - “Trend’s Potential”

August 14, 2018

Daily chart: Downtrend in direction of the support level 5677.85 (lower Bollinger band) preserves.

H4: Local support at the area of lower Bollinger band (5873.55) is under the pressure of sellers and, evidently, this level will be successfully broken.

H1: The market may stay within the lower Bollinger bands (5787.29-6058.12) intraday, since ADX indicator readings are still falling.

Expectations: Downward flat in the 5787.29-6058.12 range.

Trading recommendations: Shorts towards 5787.29. Optimal entry area is 6000.00-6058.12.

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