Daily chart:
As we see upward forecast proves itself entirely and so far there is a feeling, that everything just begins - ADX and RSI indicators reside in the state of strong trend, therefore new upward momentum can be very volatile!
The closest target of bulls seems to be the marks of $5800, $5900, $6000 for a coin. Profit capture may take place at the 6000 mark, that will force market to roll down again.
H4-chart:
Upper Bollinger band is broken being a traditional attribute of the quotes’ growth continuation. Given very active state of ADX indicator we can suppose, that this growth will continue directly from current levels. But movement with prior retest of the broken PPZ 5435 would look smoother (watch the trajectory of black arrow).
H1-chart:
Intraday RSI oscillator shows substantial overbought conditions, that also can be the reason of downward correction in direction of the 5435 level. Thus this mark is the most attractive price to buy bitcoin shortly with count on growth towards 6000.
Expectations:
Main scenario: Pullback towards 5435 and then start of new upward movement in direction 6000.
Alternative scenario: Direct continuation of growth from current levels. The target is 6000.
Trading recommendations:
Longs towards 6000 (optimal entry point is 5435).
As we see upward forecast proves itself entirely and so far there is a feeling, that everything just begins - ADX and RSI indicators reside in the state of strong trend, therefore new upward momentum can be very volatile!
The closest target of bulls seems to be the marks of $5800, $5900, $6000 for a coin. Profit capture may take place at the 6000 mark, that will force market to roll down again.
H4-chart:
Upper Bollinger band is broken being a traditional attribute of the quotes’ growth continuation. Given very active state of ADX indicator we can suppose, that this growth will continue directly from current levels. But movement with prior retest of the broken PPZ 5435 would look smoother (watch the trajectory of black arrow).
Intraday RSI oscillator shows substantial overbought conditions, that also can be the reason of downward correction in direction of the 5435 level. Thus this mark is the most attractive price to buy bitcoin shortly with count on growth towards 6000.
Expectations:
Main scenario: Pullback towards 5435 and then start of new upward movement in direction 6000.
Alternative scenario: Direct continuation of growth from current levels. The target is 6000.
Trading recommendations:
Longs towards 6000 (optimal entry point is 5435).