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.
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.