Technical analytics

BTCUSD market technical outlook


Daily chart:

Narrow flat trading channel remains within the boundaries of upper Bollinger bands (3817-4082).


Locally a “bullish flag” formation can be seen, that indicates a preparation by the market of one more upward momentum in direction of the upper Bollinger band (4082).


Intraday ADX indicator corresponds to the flat forecast. The trading range is limited by 3933-4000 (Bollinger bands ) so far.


Main scenario: Continuation of flat in the 3933-4000 range.

Alternative scenario: Growth in direction 4082.

Trading recommendations:

Long-trades from the 3933 handle in direction 4000 and 4082.

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