BitcoinLong
BTCUSD market technical April 4, 2019
Daily chart:
Bitcoin for the third day is traded beyond the upper Bollinger bands, that eventually can lead to substantial downward correction. Bulls need to be more active after such impressive break, that was performed this week. Anyway ADX stands in a strong zone, therefore new upward momentum can take place at any moment.
H4-chart:
We note the level of dynamic support 4682 (middle Bollinger band), where we can consider long-trades towards middle band ($5446 for a coin).
H1-chart:
Falling readings of intraday ADX tell about high probability of flat continuation during today’s trading session. Trading range scarcely will exceed the scale of Bollinger bands (4888-5194).
Expectations:
Flat in the 4888-5194 range.
Trading recommendations:
Longs from the 4888 level towards 5194.
Bitcoin for the third day is traded beyond the upper Bollinger bands, that eventually can lead to substantial downward correction. Bulls need to be more active after such impressive break, that was performed this week. Anyway ADX stands in a strong zone, therefore new upward momentum can take place at any moment.
H4-chart:
We note the level of dynamic support 4682 (middle Bollinger band), where we can consider long-trades towards middle band ($5446 for a coin).
H1-chart:
Falling readings of intraday ADX tell about high probability of flat continuation during today’s trading session. Trading range scarcely will exceed the scale of Bollinger bands (4888-5194).
Expectations:
Flat in the 4888-5194 range.
Trading recommendations:
Longs from the 4888 level towards 5194.
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