BTCUSD market technical outlook Analysis method - “Trend Potent
Daily chart:
Bitcoin remains to be in an uptrend. The closest actual target of growth is the dynamic resistance 9171 (upper Bollinger band). Though from mid-term point of view there are virtually no doubts, that we’ll see the mark of $10000 shortly.
H4-chart:
We note an important local support where we can open long-trades today. It’s 8338 (middle Bollinger band). Correction below this mark is unlikely.
H1-chart:
Within intraday time-frame the market stands in the horizontal channel inside Bollinger bands (8665-8827). ADX indicator resides in a weak area, therefore the main expectation today will be a continuation of potential accumulation within these borders.
Expectations:
Main scenario: Flat in the 8665-8827 range.
Alternative scenario: Continuation of growth towards 9171.
Trading recommendations:
Looking for potential buy signals during decline of the quotes towards 8665 and perhaps 8338.
Bitcoin remains to be in an uptrend. The closest actual target of growth is the dynamic resistance 9171 (upper Bollinger band). Though from mid-term point of view there are virtually no doubts, that we’ll see the mark of $10000 shortly.
H4-chart:
We note an important local support where we can open long-trades today. It’s 8338 (middle Bollinger band). Correction below this mark is unlikely.
H1-chart:
Within intraday time-frame the market stands in the horizontal channel inside Bollinger bands (8665-8827). ADX indicator resides in a weak area, therefore the main expectation today will be a continuation of potential accumulation within these borders.
Expectations:
Main scenario: Flat in the 8665-8827 range.
Alternative scenario: Continuation of growth towards 9171.
Trading recommendations:
Looking for potential buy signals during decline of the quotes towards 8665 and perhaps 8338.
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