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

Bitcoin again resides at the peaks of 2019. But we have a disturbing signal in the shape triple bearish divergence of RSI oscillator, that can be an attribute of “hollow pumping”.

From the other hand ADX indicator stands in a very strong trending zone, that speaks for further growth of the quotes.

It’s likely, that with any scenario the psychological level of $10000 will be probed and after that it will be clear how actively the cashing out and sell-offs go on in this region.

H4-chart:

We note local dynamic resistance at the 9420 level (upper Bollinger band ), that is a probable target for buyers today.

H1-chart:

Within intraday time-frame the market undergoes consolidation phase within the horizontal channel 8925-9257 ( Bollinger bands ). ADX stands in a weak zone, therefore it looks like we can witness upward momentum beyond this day.


Expectations:


Main scenario: Flat in the 8925-9257 range.

Alternative scenario: Growth towards 9420.

Trading recommendations:

Longs from 8925 towards 9257 and 9420.

Comments

Home Stock Screener Forex Screener Crypto Screener Economic Calendar About Chart Features Pricing Refer a friend House Rules Help Center Website & Broker Solutions Widgets Charting Solutions Lightweight Charting Library Blog & News Twitter
Profile Profile Settings Account and Billing Referred friends Coins My Support Tickets Help Center Private Messages Chat Sign Out