Technical analysis Bitcoin. BTC-USD on May 15, 2018

July 12, 2018


It continues to consolidate, on the higher timeframes we still can see the bearish signals. ADX indicates the weak oscillations, Stoch RSI on 3 days is overbought and looks ready to go down, MACD is in the bearish zone if it doesn’t manage to go up during next days, it is possible to have a fall scenario for BTC. On the middle timeframes we can see that the market is trying to enter 8750-8900 zone, however, it is not able to consolidate above the resistance, also we can see the overbought condition. There is a possibility to move down where the next support at 8500 level will meet us. If the market pressure will be stronger, we will touch 8200 again. Now the local resistance at 8750 is a very important level to determine the further market movement, we recommend to watch the price movement closely.

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