BTCUSD market technical April 9, 2019
Daily chart:
Growth potential of coin seems to be limited - high overbought conditions hardly will let bulls to pierce the dynamic resistance of $5446 (upper Bollinger band). Thus we can go short from the mentioned zone.
H4-chart:
On the chart of RSI oscillator a strong bearish divergence is confirmed, therefore it’s likely, that we won’t see bitcoin even above the 5302 mark, where the local upper Bollinger band resides.
The first target of decline is support 4995.
H1-chart:
Intraday a flat tendency is maintained within horizontally oriented Bollinger bands (5157-5272), where the market most likely will stay during the whole session.
Expectations:
Flat in the 5157-5272 range.
Trading recommendations:
Shorts from the 5272 level.
Growth potential of coin seems to be limited - high overbought conditions hardly will let bulls to pierce the dynamic resistance of $5446 (upper Bollinger band). Thus we can go short from the mentioned zone.
H4-chart:
On the chart of RSI oscillator a strong bearish divergence is confirmed, therefore it’s likely, that we won’t see bitcoin even above the 5302 mark, where the local upper Bollinger band resides.
The first target of decline is support 4995.
H1-chart:
Intraday a flat tendency is maintained within horizontally oriented Bollinger bands (5157-5272), where the market most likely will stay during the whole session.
Expectations:
Flat in the 5157-5272 range.
Trading recommendations:
Shorts from the 5272 level.
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