FortFS

BTCUSD market technical Analysis method - “Trend Potential”

COINBASE:BTCUSD   Bitcoin / U.S. Dollar
Daily chart:

Absence of correction and also long-lasting settling of bitcoin at the 8600 level, that may tell about potential for further growth of coin’s quotes in direction of the upper Bollinger band ($9171).

At the same time ADX indicator stands at the peak, that may indicate a limited bullish potential.

H4-chart:

Local trading range has horizontal mode and don’t exceed $240 (8570-8807, Bollinger bands ).

H1-chart:

Intraday dynamics also has attributes of sideways trend. ADX stands in a weak zone, therefore a flat within Bollinger bands most likely will be continued ($8600-8770).


Expectations:

Flat in the 8600-8770 range.

Trading recommendations:

Short-term trades in the 8600-8770 channel.

Comments

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