BTCUSD market technical Analysis method - “Trend Potential”
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.
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.
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