Technical analytics

BTCUSD market technical outlook


Daily chart:

Bitcoin shows tendency for drop of the price to lower Bollinger bands, that opens room for further decline of the quotes in direction 8875 (lower Bollinger band).


There are several consecutive bars beyond the lower Bollinger band, that sometimes leads to intensive upward corrections. We note two resistance levels where such pullback might be directed: 10650 and 11100.


As we see lower Bollinger band wasn’t broken. This points to a high probability of asset’s recovery towards upper band (11000).


Growth in direction 11000 and then continuation of mid-term decline.

Trading recommendations:

  1. Longs towards 11000.

  2. Shorts from 11000.

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