BTCUSD market technical April 16, 2019
Daily chart:
As we see, from one hand bitcoin keeps mid-term upward potential in direction of the 5719 mark at upper Bollinger band, but from the other hand ADX indicator experiences corrective stage, that indicates an absence of trending pressure. Thus most likely gaining of volumes on current levels will be continued, that may look like flat.
H4-chart:
Market doesn’t change the borders of horizontal channel of accumulation so far and stays within Bollinger bands ($4994-5168 for a coin).
H1-chart:
Intraday bitcoin remains in an upward phase of the movement, that supposedly will be completed at the area of dynamic resistance $5158-5168 (upper Bollinger band). Thus we can consider long-trades in direction of this zone and then taking profit and selling.
Expectations:
Growth in direction 5158-5168 and then downward reversal in direction 5000.
Trading recommendations:
Longs towards 5158-5168.
Shorts from the 5158-5168 zone towards 5000.
As we see, from one hand bitcoin keeps mid-term upward potential in direction of the 5719 mark at upper Bollinger band, but from the other hand ADX indicator experiences corrective stage, that indicates an absence of trending pressure. Thus most likely gaining of volumes on current levels will be continued, that may look like flat.
H4-chart:
Market doesn’t change the borders of horizontal channel of accumulation so far and stays within Bollinger bands ($4994-5168 for a coin).
H1-chart:
Intraday bitcoin remains in an upward phase of the movement, that supposedly will be completed at the area of dynamic resistance $5158-5168 (upper Bollinger band). Thus we can consider long-trades in direction of this zone and then taking profit and selling.
Expectations:
Growth in direction 5158-5168 and then downward reversal in direction 5000.
Trading recommendations:
Longs towards 5158-5168.
Shorts from the 5158-5168 zone towards 5000.
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